All Forum Posts by: Peter Falk

I would talk with a local WI lender about options, but maybe the friend in CA could just get a loan and buy as their vacation home (better interest rate and probably lower down payment options) and you could assist with management and down payment funds and do some form of ownership agreement. I know the best terms for loans don't coincide with owning as an LLC.

If you get stuck doing new base cabinets to move a sink or add a dishwasher if none is existing, you could replace just those and paint the existing upper cabinets (with new hardware) if they are in good shape and in a good design.  I did that to save money and it turned out well (did dark base cabinets and off white uppers).  If you learn basic tiling skills, as others said, you can also do a basic subway or other tile backsplash without much spent for materials for a look that might stand out among the competition. 

The title company handling the title work on the sale of the property you are selling may also have some intermediary recommendations that they frequently use.

I don't have a good option.  I've been told many insurance companies don't like insuring vacant houses.  My agent said they'd just do a 6 month minimum term and not credit anything back if cancelled earlier when we last talked about this awhile back (Ryan Waite with Neckerman Insurance in Madison, WI)

Mindy, I can email you WI approved residential and commercial offers to purchase for broker/agent use.

As mentioned by others, the easy answer is just move on, but if you like the property, and seller isn't willing to do anything regarding it, could see if they'd let you at your expense do what further investigations to be comfortable there is no contamination and cost to remove.  Ideally the seller would agree to lower the price to cover that investigation and expense (not sure if lender would require it be deemed safe and removed).  I've only come across 2 underground oil tanks in Madison, WI sales and both were dug up and removed with no contamination issues.

I've done this when trying to find options when inventory on the market for sale is lean, thinking when there is turn over an owner may be frustrated and more receptive to the idea of selling.  I did find some owner's open to the idea of selling, and those not interested in selling didn't seem upset by the inquiry.  I was focusing on a specific area, and not contacting everyone with a rental ad.  Those who would consider selling were obviously not terribly motivated-kind of a given that they are not actively trying to sell- so probably not as likely to find a great buy.