Profile picture for Fernando Melendez

Fernando Melendez

Agent

7 Recent Sales (last 12 months)

Specialties:
Buyer's Agent,
Listing Agent,
Short-Sale,
Property Management

Advice

  • (6 Contributions,
  • 0 Best Answers,
  • 1 Helpful)

Contributions are sorted newest to oldest.

I'm buying a house under a FHA loan I have been approved but a condition was for a second appraisal

Answer

If there is a condition on the first appraisal, that condition must be cleared, it could be the simplest thing ex. a crack window or the closet is missing the carpet... and if is not cleared the loan could get cancel, now in regards of who will pay for it, the buyer should not do any repairs with out the sellers consent, and if the contract says that the property is being sold  "as is" that is an issue, most of the times the seller will correct the issue(if they want to close). And yes, there must be a second inspection paid remember that the appraiser is a third party hired by the buyer, and if the appraisal was to be paid by the seller they must be informed.

  (0)
How about buying property with section 8 tenant in?

Answer

you would have to honor the remaining term of the lease, however it is a plus if  the tenant is section 8, i manage several properties and when we had that situation we had to contact section 8 to make the transfer of ownership and continue with the same tenant, remember section 8 leases auto renew every year, and if you want them to vacate the property you have to give them plenty  time in advance  to move out.

  (0)
mold exposure

Answer

you could hire a mold inspector at you expense to be 100% sure you have high levels or toxic levels of mold, and if you do ,you could ask your landlord to abate the mold. There has to be a constant moisture issue for mold to grow.

  (0)