All Forum Posts by: Linda M.

Hey Wayne I know YOU  can't help me, but the credit was for the repairs of some of the code violations,When are Code violations obvious? just so I'll know the next time to be on the look out

It's a great property at least I think it is ,but could it be that I would take on the burden, of the city, but I am asking for 2000 dollars and the project is going to cost 10500,Do you think that the" MY"attorney should go for the credit based on the nondisclosure and get it

Hey Mike We haven"t closed yet we are now on an extension with a new loan company.

The last time I posted it was about the loan agent , this time it is concerning the attorney and the fact that there was found to be some code violations.To make a long story short, a couple of days after the contract was signed I go to the city of Chicago web sight and enter the address of the property and it comes up with a few things dating back to 2011 and 2012 ,I contact the "my" attorney and let him know that those things were not disclosed.After some time the seller make a change of attorney and the new attorney offers some credit towards repairs and that was fine with me. A few days later the seller goes back to the original attorney and say there will be no credit towards the repairs because it is an as-is contract , but on the contract the seller checks off they have no knowledge of any city or Government violations, and "MY" attorney seems to be just fine with not providing a credit, the "MY" R.E estate also say this is an as-is sale with a rehab loan .So what am I suppose to do when everybody sides with the seller. Is the Residential Real property Disclosure Act 765ilcs77 a helpful tool, I had to get an extension for this contract because of all the back and forth but should I also be looking at another attorney,oh and the r.e agent tells me that the seller needs to get a certain amount from this sale and does not have any money to give so is that a good reason to not ask for a credit? ...The attorney was a referral from real estate agent,I need ADVICE on how to proceed..

HELP PLEASE!!!! I went to a mortgage broker that was recommended by the real estate agent i was working with in January,I went thru the prequalification and was approved for the loan with a max of 160000 dollars including rehab. Now it is April, I found a property signed a contract and this loan officer calls the next day to say that the product was for  single family only .Never was single family brought up in the nearly 20 times we communicated,or did the prequaification sheet he emailed to me state single family only,our conversations were about investor rehab loan.He said that he could get another product for me but I need 10% more down to make it 25% of purchase price.I ask for the details of the loan in writing and he has not sent them yet from all day yesterday 04/28/2017and now04/29/2017 half the day gone today.I have signed the contract and it was accepted and all my finances are a mystery,because I don't know what this new product contains and if i can afford it or if i should want to. I can't explain my hurt feelings ,the lack of trust I feel and the disbelief ,I worked hard to get to this point not to know where this is going to lead me, I can not stop the tears from falling ...I know there's no crying in Real Estate.(I think )..but this hurts .This broker even talked to my R.E Agent and the seller's Agent prior to the seller accepting my offer,which the seller had multiple offers.Do I have any recourse?,

I submitted an offer for a property that is vacant,the offer was made in Feb around the 13th and the agent did not respond to the  written offer , a week later the property was listed as pending and now the property is back on the market as of 03/02/17.So now I am looking further into the property and find that the property is in demo court and has 50 code violations from 2011-2017. What should be my next step?

Hey Steve Thanks for the heads up and I see someone listed on the NAEA.org website that I will give a call next week to get this ball rolling,because I do need some guidance THANKS!

Hey Scott , I am so wanting to get with a professional and you have just given me filing reasons to seek one out,to know that I can do an adjustment to get the depreciation I missed sounds good to me Thanks for the advice

Hey Jeff I saw the property I made an offer on listed as contingent,I call the agent and he says that it's probable because the listing agent didn't want to share in the commission since the asking price was so little,and that's how it is in the real estate business.Not to mention that he is on vacation and will be back Saturday we'll talk,and I'm feeling like I should just start calling the listing agents of these properties and forget about having an agent represent me,at this point I'll be waiting forever to start my investing,dealing with people who don't share my vision

Yeah it is Tax time and this has been bothering me since I started renting my condo out in 2010, I have never taken the depreciation for the condo and I have always used Turbo Tax to do my taxes,and I always feel like a surgeon operating on myself,like I know I'm missing something.I have used a professional CPA and was not happy because he left off some obvious stuff and I discovered it and had to do an amendment.at this time I lived in the condo so depreciation was not an issue,I want to use an accountant /CPA but not if I have to tell them what's wrong. Looking to find the right one for my situation.