Renting Real Estate Questions and Answers

Help on false promises and unreasonable billing?

Last week on Friday we had an overflow surrounded by our toilet. We came home and our runner floor was flooded and it seep through to the neighbor's apartment underneath. We tried to shut off the toilet, it is still running but no overflowing. Our neighbors reported it the subsequent day and we have the maintenance men come over and explain to us they will fix it at no cost. But today we've got a bill for $750.00 and it tell us to report the incident to our rental insurance or else settle for it. This really struck a blow to us as we are moving out the next month and we involve the money to pay for that apartment and for our sports car that was broken into on the apartment premise. Anyone be in indistinguishable situation; I really need give a hand on this.


Answers: You have a problem if you do not enjoy renter's insurance. A toilet will NOT overflow on its own, unless you did something to plug the bowl outlet. A toilet bowl outlet can handle a LOT of hose, as you can obviously see when you flush a toilet.

The running staff will fix the 'running toilet' at no cost, since that's their responsibility. However, it's YOUR responsibility to have plugged the outlet and not observe that it was plugged. Start positive money. You won't get your shelter back, and you may get hold of hauled into small claims court for the difference.
I hold to agree, a toilet does not overflow on it's own, without result in or reason.

I hope the repairs men agreed to fix it for free in writing.

You are responsible for the cost to repair the harmed to both your apartment and your neighbor's.

If you do not pay, expect to be sued.

HOW much to tender?

OK WELL IM PLANING ON BUYING A NEW HOUSE AND I JUST WONDER LIKE HOW MUCH IS TO LOW TO OFFER??IT HAS BEEN VACANT FOR TWO YEARS AND BEEN FOR SELL ABOUT THE SAME AMOUNT OF TIME.THE CURRENT OWNER IS LIVING IN MARYLAND NOW.THEY WANT 254,900 FOR IT.PLEASE HELP ME BECAUSE I REALLY LIKE IT AND I DONT KNOW HOW MUCH TO OFFER.


Answers: It really depends on whats the maximum you are willing to spend on the home and how much you want this unmarked house. If you dont really care roughly speaking getting this house i suggest throwing a really low ball hold out and see if they will bite on it probably somewhere around 20k less later the offering. If you have mixed sensations about the property after offer around 10k smaller number. But if you really want the property then newly offer close to the offering price. There is no too low of an give but if you go too low you are essentially going to offend them and they probably wont even counteroffer.
You necessitate to look at local sales of similar homes contained by the past few months to carry an idea what the home is worth. Also look and see what is currently on the bazaar that is of similar size and ammenities.

Another factor to consider is how motivated is the trader? If it's been sitting deserted for two years the person any has sentimental significance and can't part beside it, has priced it road too high, it have some serious problems, or the seller have no need for money and no desire to unload it. If in attendance is a mortgage on the home, then the vendor needs to repay off the mortgage and be reinbursed for any sale costs . and probably wants to bring in some money on top of that. So know your seller's situation AND the souk.

You can also go to www.cyberhomes.com and it will furnish you some data. It will not be 100% accurate, as it is not a CMA that factor in upgrades, point of building, ammenities, location, etc. It will just show you bed/bath/SF and sale price.

I would strongly recommend any buyer consult with a physical estate agent. If you are an experienced investor you will have relationship with the contract paperwork, how to turn about inspecting a home, getting a loan, etc. If you haven't done this a few times, it is really surrounded by your best interest to contact an experienced agent who can ensure that this is the right purchase at a fair price for you.
Have your Realtor run comparables to form your submission.

If the place has be sitting that long, either they are contained by a position to sit on it or are holding out for their price.
You can always budge up in price but it is tricky to drop your offer price, assuming they want to supply, offer lots smaller number than you are willing to clear,you can always walk up. If i am not embarrassed ,by my offer on property , I end up paying to much

Experience next to negotiate price of REO property after appraisal?

We are currently in escrow for an REO contained by Contra Costa County. We have signed an PS. The appraisal has come wager on "declining market" and very soon we have to come up beside 5%. Is it possible the bank near re-negotiate the selling price or give us credit towards closing costs.? Any information would be appreciated.


Answers: Do you hold a contingency that states that if the house does not appraise for sales price that you own recourse? If so, you are in honourable shape to renegotiate. If not, you can ask, but I wouldn't be optimistic. Hopefully they enjoy been sitting on the house for awhile, they haven't have other offers and are of a mind to work with you.

Good luck!
Banks don't similar to negotiating, specifically why they incur the cost of a Realtor, rather than enjoy a loan officer sell the property. Chances are they will utter no on any offer made by you. But if you can't afford the 5%, or, the house isn't worth it. Try adjectives a more favorable deal since the apprasial is short. There are many other properties out within.

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