All Forum Posts by: Julie Berks

@Catie Lawrence I just spoke with a title company and they referred me to the DORA website.

@Catie Lawrence  Thank you for asking this question. I am in a similar situation and was wondering the same thing. I will call my Title Company today.

@Will Barnard Yes working on the comps right now.  This is an off market deal with no real estate agents representing so I am gathering information from the tax assessor website.  I appreciate all of you help!

@Colleen F. Thanks for the heads up.  There are floor coverings somewhere beneath the dirt, dust, furniture.....haha.  It will be so satisfying to rip it out (after we close)!

@Justin Abdilla Thanks Justin. This seller is very hands off and doesn't want to repair anything which is ok with us as long as the sales price reflects that. Inspection tomorrow so we will have a clearer idea of the true condition.

@Will Barnard  Thank you for your advice.  Our lender didn't ask for pictures when I mentioned the condition of the property; I will ask him directly to try to prevent a surprise down the road.

Do you know if the appraiser will ask to see a copy of the inspection report?

@Mike Giallanza The property is for myself and husband to do a live and flip. My lender is the one who mentioned the clause however it seems too vague and was looking for clarification with possible specifics.

The lender is a direct underwriter for VA loans, is that an advantage?

Thanks for your reply!

When inquiring about a specific property that is in need of major "cosmetic" repairs/ replacement:

*drywall damage

*holes in interior doors

*tile missing in shower

*disgusting rugs

*peeling vinyl flooring

All things we have experience in replacing, however would this affect the possibility of getting a conventional or VA loan due to the clause "No major issues affecting safety, soundness, and habitability"?

Thanks!

Hey BP World!

I am currently looking for a SFH in Littleton, CO which is just west of Denver. Upon speaking with quite a few people and touring multiple homes the soil in that area is prone to structural issues due to the amount of Bentonite. I understand the importance of having a structural engineer to inspect any properties in question and I have one lined up if the case should arise.

However, I am surprised at how "comfortable" people are when discussing structural repairs out here.  I come from an area in which a home with structural issues would be difficult to sell because it was not "normal" and usually a better option could be found.  I am trying to educate myself on the process and effect a property with this "stigma" would have on resale.

If you were to find a property with structural repairs that the seller discloses, how comfortable would you be in proceeding?  

Thanks for helping.

@Yvonne Underhill Hello and Welcome! You have found a great community and wealth of resources. Congrats on setting the goal to purchase you first property.  I am in Denver as well; shoot me a message if you would like to grab coffee.