 My rental property has mould and damp. the landlord keeps telling me to wipe it off and keep windows open? |
| is this legal . i have reported it many a time and he says its because of double glazing. whats my legal ... |
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 Has anyone had their home reposessed.? |
| If so where did they move to, do councils rehome them ?.... |
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 I am purchasing a foreclosed home and I am trying to figure out what the property taxes will be. Help!? |
| Ok, so on zillow.com is says the property is appraised at $125k-149k but I am only paying $84k for the house. I am waiting on my appraisal from the mortgage company. Is this appraisal used to ... |
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| My lease is up as of 7/30, but my new apartment won't be ready until 8/7.... |
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 What do you think??????????? |
What do you think of Oklahoma? Is it good or bad place to live, also whats the rent like around there (cheap or expensive). Be as honest as you can.
Additional Details
WOW!!! NOT THE ANSW... |
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| My parents own 3 houses that they rent out to people. They have done this for about 6 years. This is the first time they are having problems with a tenant. They don't pay their rent until they ... |
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 Whose job is it to find a new roommate? |
I'm moving out and giving a 30-day notice as required by the lease. My roommate thinks it's my job to find someone else to move in - I think it's hers. Who is right?
Additional D... |
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| Say they didn't have a job but found the perfect apartment/house, then got a friend who owned their own business to pretend that person had been working for them for 3 - 5 months for the bank to ... |
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| Im not exactly knowledgable on home buying yet (im 22) but I've got some money saved up now and I want to buy a house as soon as possible. is $15 000 enough for a down payment? If not, what ... |
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Eric w | Foreclosure or...? |
I own a rental with huge structural problems needing repair and tenants who never pay their rent on time. The building is below code and this wasn't reported to me by my inspector. I am in danger of loosing this property due to the repair costs and constant changing tenants. I doubt I will be able to sell due to the previous unknown code issues. Do you have any suggestions... |
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Shades of Gray
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uh... Bermuda? |
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Bob
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You have two choices....
(1) Walk away and let the bank/court/jurisdiction take over the property and do something else or demolish it as they seem fit. Many slumlords have done this only because the properties were paid in full. You don't sound like a slumlord so....
(2) Make an honest effort to improve the property and attract tenants who will pay the rent.
You were not present at the inspection - are you a corporation that purchased property without knowing anything? |
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Pia
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Sell it as is |
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Jonnner
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Find your local association for owners of income property. Go to a few meetings and ask other owners how they would solve your problem in your market.
Separately, does the building or property include any materials or items that have significant value on the "used" market? One example is the slate on a slate roof.
I also agree with the response of "Brand X" |
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justwingit
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Any chance of getting an equity loan to take care of the problems? Go to the bank/note holder...believe it or not they prefer not to foreclose as it costs them mostly unrecoverable money (maybe especially in your case), and see if they can work something out with you...it any case, get rid of the non paying tenants...if you really are having structual issues, that may be reason enough to get them to out...I have made deals with non-paying renters to waive the amount due if they agree to move out by a certain date...this doesn't get you your money, but it does get them out, without the expense and wait period of eviction. |
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Brand X
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It depends on how much equity you got in the property and whether you are personally liable for any shortfall assuming it is foreclosed upon. Depending on the obviousness of the code violations, you might have a claim against your inspector who should have caught that stuff. |
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YA is a sham
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You say you had an inspector, how long ago was this inspection and was he/she bonded? There may be some recourse for an improper or incomplete inspection. The tenants not paying on time is your problem, there should be a clause in your rental agreement to adress this issue. The repairs will ultimately be at your expense and the city may red-tag your property and force you to make them as well as relocate those late-paying tenants. You should bring your property up to code ASAP and then deal with the inspection company. |
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nikkimccarty
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Where is it? Maybe the land would be worth more w.out the house on it? |
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bathagent
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You might be better off leaving the property vacant. Board it up if you can't fix it right now. You don't want to have any personal injury claims (or worse) to deal with right now. Especially since you are aware of major problems. Your liability is enormous!
I agree with the other posters to call your current mortgage company and explain the situation. They really do not want to foreclose and appreciate it if you just communicate with them. They probably won't chip in any more cash, but might give you time on your payments to get the problem resolved (add the payments to the end of the loan, or divide some payments up and add them to future payments somewhere). Depends on the lender.
A great deal depends on how long ago you purchased it? The seller must've known about "major structural problems?" If the problems have occured during your ownership, you can't get any help from the sellers. Every inspection I've had done includes a clause about they aren't responsible for missed items, so I doubt the inspector will be to blame either unless it's grossly obvious.
If you have no equity to get a loan, or no way to pay for the repairs, you'll have to sell it "as is" for less than you owe. Your lender can work with you on a "short sale" meaning they forgive part of what you owe. again, depends on the lender. |
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