All Forum Posts by: Sonya Stovall

@Chad Clanton no fix, but I had the same problem today and yesterday.

Great job, would love to know which contractors finished the work.

@Chris Purvis Yes I am, RMSH Gryphon.  Tons of family still there. 

Good choice Chris and Good Luck.  I'm actually your homegirl.  When I transferred my license from MS to DC, I used the website www.nightbeforetheexam.com and I liked it.  I prefer online testing/study guides.

@Connor Bell LOL, I tried to show one today and the client was like, No way; near a graveyard.  Not interested.

@Robert Piller I have not dealt with this, so I may be off base but I do know that once my sister had her stroke, her current apartment was not suitable for her for this very reason.  So I'm thinking maybe reach out to rehab facilities and leave some flyers or post on their boards.  When something is new to you, to reach out to the people you see most frequently.  Good Luck!

@Dave Myers    Also you need to get help and draft language to have a "kick-out".  You want a Contingent Contract with a Kick-Out.  This will allow you to be under contract with them, but still keep your house on the market.  If another qualified-buyer comes up and wants purchase, the initial offer is usually given a time period (i.e. 72 hours) to decide if they want to remove their home purchase contingency and go through with the contract of buying your home(even without selling their house yet) or use the contingency clause and let you now they want out of the contract.  Get help with the wording.  It gets tricky.  Get help, get help.

Not a lawyer, no legal advice given.  Just explaining some basic RE contract terms.

@Wogderess H. some of what you are saying is not making sense.  Your comment about the appraisal being "done on cost based and market comps" is confusing.  On the Residential form, even though the cost approach to value is done, rarely is it used to get the Final Opinion of Value (Market Value).  

As for the seller going down, why would he? You agreed to $81 and the property appraised, so from appraisal stand point, the transaction should continue. If you think the property should have appraised higher than say $85K maybe you are confusing the the current appraisal with the ARV you think you will get after you do the minor repairs. It sounds like you may not have complete understanding of your numbers.

I hope it works out to your benefit.

what James says is true, especially in DC. Cash is King and will make you the early bird in most areas of DC. You also say, "planning" to finance this way, Are you connected with a great finance person in the area? One who can lay-out all the options you specifically have. You are right, you do not want to do HML on something you want to occupy and hold for a length of time. PM me if you want to connect and discuss further. Good luck with your search!

@Ruth Gebrewolde Welcome to BP and Good Luck.  You should be able to make some connections.