All Forum Posts by: Mark Bookhagen

Also, HUD homes don't allow for inspection contingencies so you'd have to inspect before you bid (at your cost).

Hi @Tom W. . I would get an agent that is not the seller's agent. It is very tough (not impossible) to avoid a conflict of interest when the agent is representing both sides. The scale would not tip in your favor. You don't need an appraisal, but you do need a good agent to pull comps. You also need to be able to accurately estimate repair costs (plus overages).

I'm a little more clear after reading your post again. I guess my question is, why do you want to own the condo free and clear?

Confused... You say that the owner will finance the 2nd home for you, but you also say you are going to refinance your primary home to pay cash for the 2nd home. If the owner can  finance the property and you have a down payment, you don't need to refinance your primary. Please clarify. 

This is a huge red flag. You must inspect every unit for a variety of reasons. There is no reason whatsoever that you cannot see the inside. If they won't show you, don't buy. There is a reason they don't want you to see inside.

Zillow pulls from the county. I have found them to be accurate in my area.

City rules say "up to 8 weeks," which isn't that bad...

Hi BP!

I recently purchased a SFR through a tax foreclosure auction. The ex-owner is currently in possession of the property. The city says I can't contact the occupant until I receive the deed back in the mail. Any advice on how to get her out once I receive the deed if she won't leave voluntarily?

Thanks!!

@Jennifer Henning  Another thing to consider - You won't have to pay capital gains on the sale if you have lived there for 2 of the past 5 years.

You can always request them, but there is no guarantee they will supply them. This is especially true if you are one of many offers. It is more typical to examine things like leases and books with 5+ unit apartments.