All Forum Posts by: Rahul D.

Hello Everyone,

I had an approved short-sale and the closing was last Thursday (6/29). Apparently, the seller did not show up at the closing title company and stopped answering his Attorney and his Realtor's calls that day. Seller's Attorney eventually got back to us and said that the seller is saying that he has changed his mind about the sale. What is really surprising me is that I met the seller about 3 weeks back, when I had to go to his house to get an Addendum signed by him, approving the sale at the appraised value instead of the actual purchase price; at that time he had not shown any signs of not moving forward with the sale, and had signed the new purchase price Addendum without any issues. 

Subject property is located in DuPage County, Illinois, and I'm still very interested in acquiring it. I've talked to my Attorney about this, but he doesn't seem very helpful because it's not his expertise and he cannot take this case any further. Having said that, I'm seeking advise from someone here who's either a Short sale Attorney or has experienced dealing with similar situation. Thanks in advance for your advise and cooperation. 

Best,

Rahul.

@Fernando Angelucci - Please add me to your mailing list of investors. My email address is [email protected] 

@Nino Alfano - Thanks for the info. I'll PM you to ask a couple of specific questions. 

@Ryan O. - Thanks for the detailed message; I'm trying to evaluate what would be the best option given my situation. 

@Rachel Imhof - Thanks for the info. I just sent you a PM; please let me know when can we discuss further. 

Thanks Kenneth. 

Ryan, thanks for the quick reply. I've learned my lesson about the permits. This was my first time and unfortunately I got bad contractors and their bad advice. Do you recommend getting the permit now? 

I'm also wondering what is the probability that the potential buyer's lender ask them to ask us for all the permits before giving them loan, since it's a recent full rehab? Please advise. Thanks!

Hello!!

I'm in the middle of my first flip project and I have a question related to building code for putting two bathrooms back to back in a Single Family Ranch house. We started this project a few weeks back, and since it was primarily cosmetic work, our contractors suggested that getting permit is not mandatory, and we went with their recommendation. We had to fire those Contractors because things were not working out, and now our new contractor is telling us that putting two bathrooms back to back is not up to the code in many counties; unfortunately we bought the house with the bathrooms already roughed in, so we just decided to go with it. I'm concerned now and hoping to get a second opinion from someone on this Forum. Please let me know if anyone here is familiar with this topic and can tell me whether it's allowed and if I should go pull permits now. Thanks for your cooperation in advance.  

Hi Joe,

Can you please add me to your mailing list? Thanks!

[email protected]

@Laniece Miller / @John Thomas - Thanks guys. I recently learned about the Chicago Creative Investors Association, so I've attended a couple of their events. I'll check out the other meetups as well. 

@Rob M.: Can you please share info of the local meetups you mentioned about in your reply? Thanks!

Thanks Kumar. I have also looked into Sheriff Sale auctions and agree that they are very time consuming; another issue with them is that they are all cash deals, which makes it even harder.