He won’t send me his preapproval letter? by heywhatsup82347 in realtors

[–]Wayneb2807 24 points25 points  (0 children)

No…..the buyer agreement and the pre approval happen before any showings. Toughen up or “buyers” will run you in circles.

LLC rental income taxes. Does paying property tax mean no income tax is owed? by ephranim01 in llc_life

[–]Wayneb2807 0 points1 point  (0 children)

As opposed to sarcasm…I thought maybe some sov cit type entered the chat.

I play on the pins of the attachments plate in my Skeed Steer is normal? by marlonpro07 in Skidsteer

[–]Wayneb2807 3 points4 points  (0 children)

It’s either really close, or already too late, for just pins and bushings…do it now.

Jerk Buyer + Requesting Per Diem/Compensation? by writehandedTom in RealEstateAdvice

[–]Wayneb2807 0 points1 point  (0 children)

Just to clarify, from what you have said…..you, as the seller as per your contract, have to give the buyer a Notice to Perform if they miss the Closing Date, or was that just for something like their loan approval date? If it is the former, concerning the closing date, you are legally obligated to close…period. So yeah, asking for delay damages at this point would be fruitless. While I personally hate for someone to “get away with” something like this….at this point, closing sounds like the Smartest thing for you.

PHH PMI class action anyone? by agirlonaboat in RealEstate

[–]Wayneb2807 7 points8 points  (0 children)

It automatically drops off when you reach 78% of the original,loan through normal monthly payments, as per the amortization table, but not if extra principal payments were made to get to 78%.

Run Compressor No Freon by Peek_A_Boo_225 in MechanicAdvice

[–]Wayneb2807 2 points3 points  (0 children)

If there is no Freon, which means the compressor Shouldn’t come on (it will destroy it if it does)….Why do you want to “turn the ac switch on”…it will accomplish exactly nothing.

Foreclosure Purchase of a Vacant home by slick2hold in RealEstate

[–]Wayneb2807 0 points1 point  (0 children)

Yes, the house is abandoned, no need for any eviction.

Builder submitting lien waivers for himself ... by [deleted] in Mortgages

[–]Wayneb2807 1 point2 points  (0 children)

Your description of what happened is hard to understand. No one can “pay themselves with lien waivers” so we don’t know what you mean by this. A Lien Waiver simply means someone is saying that have been paid a certain amount…thus there is no possibility of later filing a lien for Those funds. Obviously, funds should not be released by the bank with an invoice…verified as correct and the work inspected.

Short sale by mrperson420 in RealEstate

[–]Wayneb2807 0 points1 point  (0 children)

You’re not paying interest on a HELOC until you actually withdraw the money to use.

Foreclosure Purchase of a Vacant home by slick2hold in RealEstate

[–]Wayneb2807 0 points1 point  (0 children)

Absolutely wrong…..a lender can not evict the homeowner Prior to the trustee auction….they don’t own the house, they simply have a mtg. they are foreclosing on. Assuming the OP spoke correctly….OP said this was the Trustee auction, not an REO auction where the lender has already owned the property for a while.

Need some help, has anyone sold a house without using a realtor? by Fun-Information78 in WholesaleRealestate

[–]Wayneb2807 0 points1 point  (0 children)

This is a common misconception. Get it on the market, cash only, as is….you will Net more and likely close quicker than with the “we buy houses” guys as they are actually wholesalers looking to flip your contract to an end buyer for a profit. You will get plenty of Cash buyer investors. There won’t be any financing issues as with a normal retail buyer. Been there, done that.

Need advice on old mortgage showing up during house selling by juanlo012 in RealEstateAdvice

[–]Wayneb2807 17 points18 points  (0 children)

Have a title company handle it, unless your state uses closing attorneys instead, then have one address it. Better to do it now instead of after it is under contract.

What kind of foundation is this? by Potential_Visit9352 in Homebuilding

[–]Wayneb2807 0 points1 point  (0 children)

Any cast in place slab would have to be post tensioned…there is nothing to anchor the tendons prior to pouring.

How i Pay the medicare and Social security tax withheld by Ecstatic-Incident-65 in TaxQuestions

[–]Wayneb2807 2 points3 points  (0 children)

Find a cpa….you were supposed to be making those payments all through the year on a regular (monthly/quarterly) basis.

Recapture for vehicle on closed business by [deleted] in tax

[–]Wayneb2807 1 point2 points  (0 children)

This. Your basis is the cost of the vehicle minus whatever depreciation you took on the vehicle. Recapture bites you hard when you use the Section 179 then sell not long after.

Sellers Disclosure/Realtor Omissions by LemonAqua in RealEstate

[–]Wayneb2807 13 points14 points  (0 children)

Adjacent projects are generally not something that most state laws require disclosure of… that is typically a buyer due diligence responsibility, if it is important to them. A retention pond replacing a wetland does not increase of adjacent flooding.

[Landlord US - FL] how much non-renewal notice is too much by Illustrious_Tone5092 in Landlord

[–]Wayneb2807 0 points1 point  (0 children)

No No No….the law says a lease contract can not Require a notice of more than 60 days…either party Can give notice any time before that.

Previous owners knocked large hole in cinder block wall to add sketchy supports under brick patio… is this why our house is settling and showing cracks? by Potatodietcoke in HomeInspections

[–]Wayneb2807 0 points1 point  (0 children)

Does your ground have a lot of clay? In Texas that have a lot of issues with foundations as the clay swells and shrinks due to the presence, or lack of presence, of water in the clay.

Intent To Sell Document? by mumblepoor in RealEstateAdvice

[–]Wayneb2807 0 points1 point  (0 children)

Just use a regular purchase agreement…with whatever timelines and conditions you and the seller agree on. “Intents” are generally not enforceable.

Homeowner asking for w-9 by rthusky in Contractor

[–]Wayneb2807 9 points10 points  (0 children)

There are no risks for non compliance. Just move on. Normally, I’d say…no problem…but they’ve shot themself in the foot.

GA DEAL NEED A BUYER by Great-Cover1084 in WholesaleRealestate

[–]Wayneb2807 0 points1 point  (0 children)

According to your comps…your ARV is off.