How much to charge a bedroom for rent. It's 12' X 10'?
Answers: see craigslist.org for your community.
Depends on where you live. I have seen some rooms of this size rent for $100 and all the way up to $700. It all depends on what is included and where you live.
Apprasial Question?
My home is a rehab. A friend of mine is fixing it up, and I've heard that beside the upgrades we are putting towards the home it will increase the values of the homes on the street. Now my question is this. My friends purchased the home, and I give them half. They are going to put the home surrounded by liveable condition and I will purchase the home from them. When we got to bring an appraisal I will be paying 80% of what the home is worth to them. Now since the repairs are going to increase the overall value of the homes around me, does this mingy my home will be appraised higher and I'll back up paying them more?Answers: Your home will not increase the value of the other homes. If your home is a fixer and you are bringing it up to average condition, one and the same as the other homes in the neighborhood you will be single increasing the value of your home to contest other similar homes in the neighborhood. Also this contract you are doing is not arm's length if you are only paying 80% of utility and then your house would not be used for a comparable and would bring down the the good point of the neighborhood if it was used.
You are making too oodles assumptions that will most likely not container out.
1. Doing a rehab with friends and of late signing part of the home over to them...explicitly a HUGE legal mistake.
2. Thinking that they are going to use their credit and their resources to flog it back to you for 80% of the expediency...I sure hope you have a contract contained by writing b/c if they refuse to do that after you are going to end up surrounded by court.
3. How do you know that the improvements will increase the value? Has an APPRAISER told you that? Or someone i.e. wanting your business? Don't assume that putting $10K int a house is going to get you a $10K increase within value. HGTV have made the public think that and it DOES NOT work.
4. How do you know that your home is going to increase the worth of those around if you if you buy it for 80% OF THE VALUE? That is bringing the value DOWN BABY.
I would notably suggest that you speak to a licensed appraiser before you do anything.
Wow. Your interrogate contains so many proper errors, incorrect assumptions, and evidence of a lack of sensitive. The only piece that is clear is that your "friends" found themselves one heck of a sitting duck.
Seriously, in attendance is a slight chance your transaction is on the up-and-up, but you have need of help. You obligation someone who understands appraisals, genuine estate, rehab work, etc. At best, you're going to overpay for the work. At worst, you just signed away the home. Get yourself to a Real Estate Attorney TODAY!
And do not relay your "friends" that you're getting legal help out.
First, is it your home? Who's on title? Secondly, work on this property will have little, if any impact on the neighborhood (with the possible exception, depending upon the exterior condition and local codes and enforcement) on the instant neighbors who may be trying to market their property. This public sale may be arms-length, and applicable only to sale of properties in similar condition. If you own a contract, a prudent buyer would have a purchase price surrounded by place. If you agreed to pay 80% of what the home is "worth to them", what do you inevitability an appraisal for? Who get's to contract the appraiser? Who's doing the repairs, and what kind of standard and workmanship can you expect? What happens if it's not to your weakness? Do you have any friends? I've get a really nice bridge I'm rehabbing. Round up your documents and RUN, do not walk, to the most reputable REAL ESTATE attorney within your area. It may not stop the bleeding altogether, but conceivably you won't "bleed out". Best of luck.
Are foreclosing bank responsible for association dues contained by a condo building?
We have file liens for dues owed prior to foreclosure, but what about after the ridge has taken possession?Answers: As far as I know, I thought that the condo owner be responsible for the association fees
Once the lender is in possession of the property, the lender is responsible for paying association dues. The dues owed prior to that date are the responsibility of the previous owner, but if the association have placed a lien on the property and the funds owed the lender are less than the sale price, the association may get repayment of ancient due fees.
In my former condo, we had this tremendously issue. Some lenders paid the allowance every month as soon as it was due. Others acted as though they be somehow exempt from owing the money and then would hang up this over the board's head if a Dutch auction were going to move about through. (They'd tell us that they could trade the condo at a loss if we were likely to sign away the right to get out money for the time the lender owned the property. If we wouldn't agree, the place would remain an vacate eyesore. Suprisingly, one lender currently in a world of hurt other paid, even so another large national lender who really have not been hurt through the up-to-the-minute crisis wouldn't pay on any of the three unit they were holding.)
Only after the date of foreclosure...until that time that, they just affix it to your bill.