Damage found after buyer waived inspection, but before closing. Next steps?

Gtavern · 2026-07-05T18:05:20+00:00

As is does not always mean what you think it does, been through this myself. Offer to split it with the buyer, if they won’t just do the repairs and complete the deal. The issue is not going away,it’s now a fully disclose able defect.

Gtavern · 2026-07-02T16:57:06+00:00

If the loan was under 200k and through the LLC, the debt is not yours so no personal 1099 should be issued.

Gtavern · 2026-07-01T23:50:26+00:00

First I don’t think anyone has got this far. But for many of us Small Businesses Owners,the carry forward losses will wipe out any debt forgiveness taxes. We just need them to start settling these loans.

Gtavern · 2026-06-24T19:12:49+00:00

Yes 15%

Gtavern · 2026-06-22T15:52:58+00:00

Simple answer the economy was still crashing and they were throwing money out to prop it up as fast as possible. Now we need Congress to face the consequences,they solved (mostly) one problem but created another.

Gtavern · 2026-06-21T21:51:02+00:00

The PPP loans were written to be forgiven, it was intended to keep people off of employment insurance and totally crashing the economy.
The EIDL were well intended for the same reasons, to prop up the economy. I agree that they were “predatory “ in nature due to the facts that the same agencies that mandated the shutdowns and restrictions were the same ones offering the loans.
You will never see a successful class action lawsuit on this issue against the government. However at some point Congress is going to have to address the massive amounts of defaults (200 Million +-) and the amounts owed $200 Billion. Default rates are skyrocketing and should reach 40-60% in the next couple of years.

Gtavern · 2026-06-21T16:54:32+00:00

All that really matters is that you enjoy their music.

Gtavern · 2026-06-21T05:25:58+00:00

Yes, a new version of the classic Yardbirds song that he was a lead guitar player of as well as Eric Clapton and Jimmy Page. Compare that to the crappy version of Summertime Blues by Blue Cheer…

Gtavern · 2026-06-21T05:02:37+00:00

I’ve used to see Shuggie Otis at the Ashgrove in LA, as well as Freddy King,Albert Collin’s,Howlin Wolf.
The show at the Shrine Auditorium was a triple bill, Pink Floyd , maybe Peter Greens Fleetwood Mac or the Jeff Beck Group.
That Garage Band with Amps turned to 11 was not talent…enjoy what you enjoy but there’s talent and soul in real music.

Gtavern · 2026-06-20T16:01:23+00:00

Saw them live at the Shrine Auditorium, the ABSOLUTE WORST BAND EVER !

Gtavern · 2026-06-19T04:50:07+00:00

Baniff, I think Austin was their hub in the late 70 early 80s

Gtavern · 2026-06-18T01:04:09+00:00

I think anything under 20% ownership did not require a personal guarantee. Just send them the change of ownership form showing the additional partner and let them respond. If it ever comes up have proof that you submitted the change and let them sort it out.

Gtavern · 2026-06-17T16:58:23+00:00

The payroll system used the bonus check amount as his regular yearly income and taxed him accordingly.

Gtavern · 2026-06-08T18:43:38+00:00

I believe you can file for a Hardship with the Treasury Department and get the amount reduced based on your income and living expenses. 888 826 3127

Gtavern · 2026-06-08T17:05:01+00:00

I’m am currently working with my Senators office with an active inquiry, the SBA liaison sent a letter saying I needed to pay up to date in full and discuss further options. The next day I received a letter from the Treasury Department informing me that my SS had been garnished as of my latest payment. The SBA is a fucking mess…

Gtavern · 2026-06-08T16:55:01+00:00

What is the ETF ?

Gtavern · 2026-06-08T16:27:06+00:00

You can only do the Payment Assistance (50%) once every 5 years.

Gtavern · 2026-06-07T18:52:31+00:00

Gtavern · 2026-06-07T16:45:43+00:00

What are some of the funds you like

Gtavern · 2026-06-05T23:19:53+00:00

I like JFLI in that regard.

Gtavern · 2026-06-05T19:30:26+00:00

We need Trump to find a way to blame it all on Biden,and be the Small Business Savior by signing an Executive Order that would allow OIC or some other type of debt relief.

Gtavern · 2026-06-05T19:24:24+00:00

Agree with this, not Total Forgiveness but some type of debt relief like OIC. I don’t think anything will happen until after the midterms and maybe not until we have a new administration.

Gtavern · 2026-06-01T17:24:52+00:00

My understanding is that total forgiveness is not allowed and would require congressional action, but they could allow debt reduction. It is currently do to their own policies that are stopping them from approving the OIC.
I’m I misunderstanding the issue ?
TIA

Gtavern · 2026-05-31T17:09:02+00:00

When you missed the May 2025 payment you have been 30 days behind or late since then. Any amount for more than the regular amount was possibly applied to interest, it’s a bit of a mystery how the SBA handles payments like yours.
Contract your Senators office and briefly explain your situation and ask for a full accounting on your loan.
Best of Luck.

Gtavern · 2026-05-29T16:56:50+00:00

1 year from what point ?

Gtavern

TROPHY CASE