Market rate is $2700 in current condition. 

Ann, The seller might be having a hard time selling due to location or condition of the property.

This apartment has enough clutter and conditions that would definitely engender mice ( took pictures during the Inspection)Tenant is on Mo2Mo lease and the lease states tenant is responsible for exterminator expenses.

Roger Truemper with Baird, Mandalas & Brockstedt, orBill Ward at Ward & TaylorThe lawyer will outsource title search and prepare all that for closing.

We did a fast walk through yesterday and I missed a few things (checking the condition of the electrical box).

Many different factors such as current expenses, condition of the property, additional revenue opportunities, surrounding neighborhood/surrounding rents. 

Make vacant delivery a condition of the sale, and then the seller will have a several hundred thousand dollar investment as incentive to push the relative out.

In effect, you have basically demonstrated that the LLC and your personal assets are connected, and have given a lawyer an avenue to drag your personal assets to the table if the LLC is sued.  

However, our lawyer has informed us that it could be problematic because transferring a mortgaged property to an LLC can trigger a “due on sale” clause in the mortgage documents, which basically states that if the property is transferred the lender can deem that a default,  which is an event that allows the lender to call the mortgage (i.e., require it be paid off in 30 days).Has anyone else come across this issue in NY State?

@Torin Foley hi,  the sellers lawyer said they would pay for title insurance and indicated Chicago title would write the policy.