All Forum Posts by: Jimmy Dudley

Sean I am not an attorney, if you have an attorney ask him. However, it is all about intent. Do you intend to occupy your home for the next year? If so then don't worry about it. If however you know you intend on moving in the next 12 months and you proceed; then you run the risk of the bank calling the loan. Your question regarding which section is more enforceable is the wrong outlook at this juncture. You don't want to be tied up in litigating contract nuances. 

Depends on how easy the building department is to work with. Sometimes you need an architect to draw up plans for large additions or renovations. Converting a garage may count.

I don't know how much you are paying the kid to mow your lawn. Have you considered writing the kid a check and using that as a record of payment? 

Quick before the bubble bursts, I know some big investors who accept Bitcoin see if a hard money lender would be interested. 

Talk to your church leadership and see if there is an attorney in your congregation who would be willing to help you. Also think about going to talk to somebody at your local sheriff office to see if there is something they can do to help you. 

There are costs to selling it yourself  holding costs, aggravation, marketing your time and most of all peace of mind. Agents are there to act with your best interests in mind. Talk to some good agents in your area who have success selling condos quickly and see if the proposition looks different when your done.  

I have heard of worse ideas. However, like most things if you don't buy it right you can't make it right. If you don't understand what you are doing at the auction you can buy yourself into some low returns with significant risk. 

Make sure you understand the rules for how security deposits are handled in YOUR state. In some states they have to be put in separate interest bearing accounts and the interest belong to the tenant. Some states don't care if you keep it in a shoe box under your bed. Just make sure you don't land yourself in hot water for "mishandling" the security deposit.  

I am not a lawyer. However, there doesn't appear to be grounds to sue for specific performance until after the 16th. I think he may be hoping you fail to show up and he can blow up the deal. Make sure your agent keeps records of contact with the seller's agent. That way he can't claim YOU failed to show up to the closing. 

Send a certified letter to her showing the damages and the cost to repair. She is liable, if she is smart she will give you her insurance information so they can pay for the damages. If not then you can file a lawsuit.