All Forum Posts by: Pete Tam

Quote from @Kar Sun:

verbal agreement does not cut it. your brother needs to have temporary occupancy addendum to the agreement. it spells out if there is rent, what is the max stay (no more than 60 days otherwise it is considered an investment property for a buyer), daily rate over agreed time to possession, needs to have signatures. Additionally closing date (title document signing) and possession date should be different. it needs to be in a contract. you can get a form online that is applicable to your state. I am surprised buyers agent did not mention it. Have this stuff on paper. 

Yeah the buyer's agent did not mentioned anything. He mentioned it to him that he is planning to stay 2 more extra due to planned trip a year ago. He lives in Ohio, and I tried to look for temporary occupancy addendum for this state, but could not find particular document. 
Do you or anyone else have any pointers? 

Hello,

One of my relative is selling his house on his own (Sale by owner) and his home closing is coming up soon. He requested buyer that he would like to stay extra 2 more weeks before he moves out and the buyer agrees to it, but he is wondering if he should get something in writing and get it signed by both buyer and seller, and may be buyer's agent signature too. 

Any recommendation? Any example letter that I can share with him? 

@Caroline Gerardo - I just DM you. 

Hello

Has any of you come across a lender who would provide an extended mortgage rate lock for 30 yrs Jumbo loan? 

I would love to join the next meetup. 

Has anyone studied about american house crisis and trend and behaviour just like economy and stock ? I am interested in doing it and reading ad hoc articles but like to have structure plan. 

Anyone to follow very closely in RE such as Mr Buffett for stocks and other investment related trends. 

Any pointers / suggestion. 

@Amanda Penna Welcome to BP ! No we have not met since then so its due but there is also a group on meetup so you may like to join. 

Hello

I am going meet mortgage lender to get underwritten pre-approval letter. I would like to know what are the important questions to ask ? 

Thanks

@Account Closed Do you have PM for your properties in Indiana ? 

Let me know guys if you have strategy for sale. I may be interested in investing if there is an opportunity.