My opinion...take the $500...I'm surprised the broker offered that...in fact, I'd say it was a mistake on his part, as he was essentially admitting negligence on his firm's part...That said, I'm not an attorney, so if you aren't happy with the $500, you should probably speak with one...

I have been reading through the knowledgebase and can't get enough of this site.My name is Becky and I am brand new to real estate (aside from working on a few accounts as an employee of an accounting firm).

It took just over 12 months with two different law firms trying to clear title but WAHOOOOO finally closed and resold an hour later for a nice little chunk of change!!

Comingling of funds from one property to another is what gets many property management firms in trouble and they can even lose their license.

To name a few,  it has no ability to manage multi-property firms due to some serious inherent conceptual design flaws.  

If you are firm and strong up front, it sets the standard which will not be compromised (late fees, repairs, etc)Best of luck!

I am a 28 year old newbie looking to shore up the holes in my knowledge and firm up my plan before I really invest, which I hope to be in a few months.

The unit was more than likely part of a bulk package purchased by a large investment firm by quit-claim or special warranty deed and then sold by quit-claim.I;m not sure what your reasoning for buying into a condo that is chained up i.e. flipping, holding etc, but considering what I know about HOA along with those you mentioned, I would spend my money on Disney World instead.

Is she firm with marking it up $8k?

(checks are already bouncing).The brokerage says earnest money and escrow deposits are safe but who knows.If you are a buyer or seller with a broker/agent from their firm I would seriously consider not holding any money with them.http://www.wsbtv.com/news/27524829/detail.html