All Forum Posts by: VAL A.

Thanks to the 3 of you for your responses:

Kevin: Reason I mentioned the 3 dogs was only for support of the pictures I have of dog feces not picked up and documented in my pictures. You're right on the pre-move in. I now have a room by room form. The house had been on the market for sale for about 45 days and the realtor assisted in the showing of the house to these renters.

George: Reason my least states tenant responsible for ALL repairs is because I'm out of state and this house was gutted totally over 3 yrs and fully remodeled with everything new inside--I didn't expect repairs. The items I found and charged them for fell within them disregarding the care of my home.

As to the move-in inspection I told them via the realtor to check the home and make any problems known to me. They signed the lease stating all was ok. Had something like the furnace going out occurred I would have paid for that. As to proof I just completed the inspection and the work is being done. I've been in a time crunch and from afar trying to arrange the work etc. A/C unit was addressed first and current tenant states it works perfect. As to tenants statements on contract law---he tried to bully me in an email with his threats and was pretty much off the mark legally with what he was spouting.

Joel: I do have everything documented and will complete it when the work is finalized. I obtained the costs from the repairman working on the property so I will have his final bill. This tenant even chastized me in his "contract law" email for not letting them know where I was since I wasn't available to them! For the long July 4th weekend that I was out of town he left message after message on my home, cell and business phone! He has yet to acknowledge that the lease stated it was their responsibility for ALL repairs.

He stated he has attorneys in California and Arizona so I am anticipating an attorney letter or letters from his friends. His wife emailed me yesterday prior to his phone messages and said we'll see you in court.

Can I file a court case to ask for the amount of repairs that exceeded their deposit? And if so, doesn't any court action have to be in the state where the property is located? (Not that I have any plan to sue for the excess--just want to be armed with right info)

I am in CA home is in NM. House rented 18 mos ago, tenant vacated 6/21/11. My lease is 10 pp, states tenant responsible for ALL repairs on property. Tenant returned to AZ. Home is 2000 sq ft 4/2.
Tenant said I couldn't show anyone the house until they notified me that their son was in Phx. I never received any further word until I got an email saying wife leaving the next day and needed to give key to someone. Caught me off guard and I made arrangements for my former neighbor to get the keys. The husband immediately started calling and leaving messages that the deposit needed to be sent to their bank account. I was out of town for long weekend and came home to find message after message on my home, cell and business phone. I immediately emailed him and advised I had 30 days under the law to respond re deposit. At which time he emailed me back with his own interpretations of contract law and that I was unable to re-rent the home, they would take legal action to interfere with a new renter etc.
I found someone who does repairs for a condo complex and he along with new tenant inspected the house room by room, took photos where possible of damage.
Letter to tenant with enclosed summary of repairs:
This is a detailed accounting of the repair/maintenance work at 3833 Espejo St NE Albuquerque 87111. These items are charged against the $1,000 security deposit and the $400 pet deposit and exceed same. While the inside of the home was left in a fairly clean manner the property was not cared for as was agreed to.

When Rick called me in late May and told me on the phone you would be leaving I asked if there was anything not working. His answer was the swamp cooler not working well and the skylite in the main bath leaked when it rained. He further stated “we didn’t do anything about them because you said you wouldn’t pay for anything”. Your lease stated that you were responsible for all repairs and upkeep of the home.

Another provision of your lease was that you were allowed to have 2 dogs only on the property. Neighbors have since advised me you had three dogs which was a violation of your lease.

The following items that were your responsibility have been charged against your deposit cost of item and labor:

Water Bill - $10.60
Evap Cooler Service - $242.49 Cooler was incorrectly plugged in, pads had not been changed nor unit serviced.
Skylight seal - $50
Kitchen Disposal Replaced – $185 Disposal broken, had metal lodged in it and drain clogged
Broken Garage Door Opener - $28
Broken Counter Tiles on Kitchen Bar - $65
Wood Flooring Damage - $440 Large head nail pounded in living room floor, N/E bedroom chunk of wood flooring missing size of quarter, S/E bedroom water damage bubbled floor (dog urine?) in one spot, separate area in same room has a large now white area damaged—surface of flooring removed – appears sanded down, several rooms have suffered deep gauges ruining surface of the laminate flooring in all cases.
Bi Fold Closet Door Broken – $70 Removed from track and missing hardware
Garage Shop Light Fixtures (3) Broken – $92
Main Bath Exhaust Fan - $45
Broken drawer front on wet bar - $35
Broken drawer track and broken drawer front kitchen north wall - $55 This had been apparently pulled by the drawer face which separated the drawer at the corner as well as the face.
Broken blinds in living room both east windows – $22
Broken and missing blinds F/R sliding door window - $38
Front Yard Landscape - $130 Trim overgrown evergreens and bushes, remove extensive goatheads which are not part of the rock front yard.
Back Patio Clean Up - $25
Missing roof shingle replacement - $40 Replacement shingles were available in the garage.
Back Yard Dog Clean Up – $120 Remove dog feces throughout the back yard including excessive amounts under the trees to the south of the property. This was highly unsanitary.
Dog Damage to Back Yard and Planters - $320 The presence of the three dogs resulted in the back yard being reduced to dirt as well as destruction of all plants in the planters.
Front Door Weather Strip – $75 Pulled away from door and hanging—dog chewed
Pictures documenting above damages are enclosed.

This sent certified and tenant received yesterday. Three calls last night from tenant who filled up my answering with his threats, improper language and notice to me that he had attorneys in both NM and CA and would see me in court etc.

Tenant of course says all these things were broken when they moved in (they weren't). I didn't have the room by room form I use now but they were told to inspect everything and the lease states that was done and no repairs noted by them.

He scared me with his talk. I bent over backwards taking a chance to rent to this couple--they had bad credit through a business loss of the husbands (in their 30's), he was the stay at home mom and she had a very good job with a real estate development company.

I feel they believed they could leave what they wanted since I was out of state.

Any recommendations on this?

Just curious................posted on 10/15 asking for help in doing a real estate contract........

Not a single response from anyone to date? Is there no one on this site that can help-----or did I post this in the wrong category?!

Will someone tell me how to structure note? I'm wrapping two underlying loans totaling 175K....my equity on top is 70K...the interest is 6.5%....I was initially going to carry 3 yrs now thought of 30 yrs for the income....but after coming on this forum this week thought I should rethink this.

The interest rate is locked in but I can change the term to 5. I was originally only going to carry for 2 1/2 yrs because I thought I could avoid capital gains tax if I was cashed out in under 3 since this was my residence.
I called IRS and find that this sale becomes an installment sale and I'm taxed from the beginning based on some formula. Got the gist of it but didn't understand totally.

What would you suggest to make the best saleable note AND what would the note then be discounted for? I'm looking for some actual figures here....thanks

I'm new to this forum and hope I gave all the info needed.

I'm doing a seller finance and have some questions. I have $70K equity in a SFR that I've just remodeled in past 2 years. Sales price is $245K, interest rate on the wrap is 6.5%. Will use an escrow to service the REC and piti will be paid to the escrow. Regarding the taxes....I thought the buyer just paid what my taxes were....but I read something on the internet that said the buyer should notify the county of the sale and to put taxes in their name? Could someone clarify? Also, what are the considerations I should look at if I want to sell this wrap? Can someone give me an idea how long I need to carry it and what the discount would be? Any other points of consideration that may come to mind for me to look out for would be appreciated.