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SD Realtor
ParticipantYou are ridiculous to argue with. You predicted another tsunami. I made a wager with you on this board about your prediction.
Loser goes away and never comes back. This is what I remember. Dont say things that never happened. I suggest you go back and read the post carefully and don’t post things out of context.
ParticipantExcellent advice UC… Did you guys need to have the city inspector come out at various points during the process or did you guys just take pictures and document all of it?
ParticipantYes I still have written him off.
Yes if you look at the post about appreciation it was not all real estate all over the country. However in for certain property classes in the county here. Absolutely.
Ummm… do you care to mention your thoughts on real estate and your prognostications?
ParticipantWow you sure showed us markmax.
ParticipantThis is a no brainer.
What you put in the lease is what you have to abide by. If you wrote in the lease that the tenants do not have to pay for water, then they do not have to pay for water.
It is your responsibility. In your next lease you should safeguard yourself better so that if there is another bill that you presumed will be covered by the HOA then you will need to write it in the lease that if the HOA fails to cover that payment, then it will be the tenants responsibility.
It is not fair for you as a landlord to impose fees upon the tenants that you did not agree to in writing and identify in the lease.
ParticipantSince escrow has no clue of what the county will assess the home for, your prorated property tax at closing is always whatever the current assessment is. As HLS said, eventually your home will be reassessed and the county you will receive a supplemental tax bill. Once that is completed you can petition for another assessment if you believe the assessment is to high. The process is not hard to do but you will need to gather comps that will backup your argument.
ParticipantDo whatever the tax code says in order to qualify yourself as a real estate professional. You can do this and keep your day job. Then you will not have the 100k agi limit on your real estate losses. At the same time your small business that you create for the real estate professional will also help create more deductions.
The hours you post on Piggington can go towards your hourly total as a real estate professional.
Presto!
Participant+1 outtamojo
ParticipantLately, Apple has been leading the smart mobility revolution. Remember that Al Gore is on the board of Apple.
Al Gore himself has been making quite a bit of money on emerging technology. What better revenge than to become filthy rich?
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I remember reading something about how much Gore stands to make off of the carbon credit stuff as well.
Damn I wish I could have thought of that scam… Except even if I did, I would have had to have been a well placed politician to pull it off… oh well…
ParticipantPersonally I am thinking about becoming a secret service agent.
ParticipantI would also advise that if you are gonna fumigate pony up the extra money to insure the roof as these subs usually crunch a few tiles.
ParticipantI would strongly advise that you talk to your realtor about this.
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With that said, lets take a few steps back.
The short sale process does not really begin until your offer is actually accepted by the seller. So what you do first is that your agent should be submitting all of the necessary paperwork, rpa, short sale addendum, and other relevant documents to the listing agent. Once all that is done, if the seller accepts the offer, then the short sale package will be submitted to the lender. Other documents will be submitted by the listing agent including an estimated HUD.
As for your part, the short sale lender will most likely require the additional information you described above. This helps the short sale lender confirm that this is an arms length transaction and that you are not related to the seller in any way. However it really should not be necessary to give this until your offer has been accepted by the seller.
If the offer has been accepted by the seller, then yes it is customary to provide that other information while the short sale lender considers whether to accept the offer or not.
ParticipantAsk an accountant. My guess would be no.
Suppose you have a business and you prepay 5 years worth of rent. I am not sure that flies. Maybe it does, maybe it does not. I think maybe a years worth of prepayment but once you get to multiple years I think it is risky.
We need a good accountant on this blog.
Participantor you could be smart and talk to an accountant.
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