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Should I take out a loan for foundation repairs before selling, or just sell to a flipper?

We bought my in-laws house four years ago thinking wed tackle a few projects over time, and now its foundation work, two bathroom remodels, and probably a new roof. We later realized what we thought was our inspection back then was actually just the appraisal, so we never really knew what we were walking into. Rates are up and were worried we cant afford the repairs. Is a loan for structural work before listing actually smarter than selling as-is to a flipper, or will we lose more that way?

9 Answers

Buyer took possession 2 days ago and is already asking us to cover a siding repair - do we owe this?

We sold our house and gave the buyer 2 free weeks to stay after closing. A tree took down a wire right before they took possession and we paid to fix the electric ourselves. That left a tiny hole in the siding. Buyer has had possession 2 days and is already asking us to pay for that too. Do we actually owe this?

7 Answers

Which manufactured home setup makes more sense: owning the lot or leasing it?

I'm comparing four ways to buy a manufactured home in the Portland metro area: a new home on a lot I purchase, an existing home with its lot plus renovation costs, a new home on a leased lot, or an existing home on a leased lot. Could an agent explain the resale and cost differences between owning and leasing the land?

8 Answers

is it normal for a loan modification to tack 30k in fees onto a 130k mortgage

im in foreclosure mediation in illinois and my servicer says theyll modify my loan but the new balance is jumping from 130k to about 160k thats 30 grand in fees nobody explained i dont know if thats even legal or if i can push back before i sign can someone who knows this stuff tell me what my real options are

3 Answers

My mortgage was sold but the original lender is still demanding a payment - who do I actually owe?

My loan closed in June and got sold to a new servicer in July, but the original lender is now demanding my August payment even though the new servicer shows nothing due. I dont want to pay the wrong company or hurt my credit, so what should I be asking each lender to sort this out?

6 Answers

Want to cancel the buyer/ broker addendum and the owner broker won’t send it to me.

The broker is pressuring me to sign the cancellation of the listing agreement, and I want to sign that with the buyer/ broker addendum at the same time.

4 Answers

How do I read a condo's SIRS study and reserves? Under contract in Pompano

Under contract on a 2/2 in a 1987 oceanfront building in Pompano, $525k, HOA $1,150. Got the SIRS study and the budget this week and there's no actual number anywhere telling me what I'm exposed to, So I did it myself: roof, plumbing risers and balcony waterproofing all flagged, easily $3M of work, and the reserves for those lines look like a few hundred grand. 96 units, so I'm getting close to $28k a door.nnIs that how you're supposed to estimate it, or am I missing something? And is a summary page plus the budget enough, or should I be pushing for the full report and the milestone inspection before my inspection period runs out?

5 Answers

Our listing has gone quiet again after a price drop - what actually gets buyers back?

We dropped our price $30k three weeks ago and had a nice bump in showings, but its cooled off again and we're back to almost nothing. Everyone who's toured it says they love the yard and the layout, just not ready to commit yet. My agent says just be patient but I dont know if thats really a strategy. We could drop another $10k or offer buydown credits instead - what actually works better to get a stalled listing moving again, and is it too soon to try either one?

12 Answers

Should we get our own inspection done while the house is still listed?

Our house has been listed a few weeks with interest but no offers, and a roof leak plus some old siding damage keep coming up as buyer concerns. If we pay for our own inspection now and it finds more problems, do we have to disclose that to every buyer after, or just whoever we go under contract with?

7 Answers

Buyer still isn't ready to close and we're stuck paying for two houses - what can we actually do?

We were supposed to close two weeks ago. Already bought and moved into our new place so we're paying two mortgages now. Come to find out the buyer still doesn't have final loan approval and title wasn't even ordered yet. Nobody told us any of this until we started asking. Can we push for a deadline with real teeth here or some kind of penalty, because I am so done waiting around?

7 Answers