All Forum Posts by: Ying Tang

I know I can learn something new on BP every day.

@Peter Walther Thank you!

Hi BP Community,

I have a question about refinancing and title insurance. We completed a refinance this week, and as part of the process, I signed a warranty deed transferring ownership from both my husband and me to just him. My question is: what happens to the title insurance we purchased when we originally bought the property?

I did a lot of things myself for my own house. My flooring guy ran away to another state after he started. I quoted around and people just raised prices because they knew I was desperate. I then bought a lot of tools, the saws that I've never seen in my life and finished the project with the help of a friend. I was installing hardwood flooring over 10 hours a day...I paid so much attention to the details to make sure everything was done top quality, and I can proudly say that the work quality is better than 90% of contractors. But...it's an experience I would never want to revisit again... just write a check and hire someone would be my future choice...unless they quote me crazy high price and I know I can do it at a fraction of price..

@Cliff James I ran your list through ChatGPT, it gave me a price range of $7000-20000+ to fix these. I usually don't walk away unless it's a big issue that will cost too much to fix and very hard to fix (foundation issue for example). Usually I just negotiate the price down.

Nice business! I know my husband could have used the boat storage money to buy more fish than fishing...

I would talk to previous owner to see if she was a good tenant. If you end up lease to her again, you will want to limit the person who can live in the property and put that in the contract. Rent to someone else if you can find good tenants. 

@Lawrence Courtien congratulations! Josh mentioned everything I want to say. I am reading the Brandon Turner book recently. One thing listed as the reason for a failure of rental is "try to be friends with tenants". So act professionally, document everything (all the communications, if you talk in person for something important, follow up with an email for documentation).

@Anthony Pollachioli You can probably try amend the closing document. But my suggestion would be not paying for the repairs. It does not make you less decent as a human being. These things should be handled before closing. There are a lot of chances for the buyer to ask for that credit but they choose to do it after closing. 
What if you agreed to the repair cost and then buyer asks for something else?

Wow, I'm currently at step 2. Hopefully I get better and better at RE stuff.