Home Improvement with LC
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Home Improvement with LC (by JR [MI]) Jan 8, 2019 1:17 PM
       Home Improvement with LC (by Ken [NY]) Jan 8, 2019 1:28 PM
       Home Improvement with LC (by fred [CA]) Jan 8, 2019 1:42 PM
       Home Improvement with LC (by Richard [MI]) Jan 8, 2019 2:46 PM
       Home Improvement with LC (by JR [MI]) Jan 8, 2019 5:09 PM
       Home Improvement with LC (by razorback_tim [AR]) Jan 8, 2019 5:49 PM
       Home Improvement with LC (by plenty [MO]) Jan 8, 2019 5:52 PM
       Home Improvement with LC (by BRAD 20,000 [IN]) Jan 8, 2019 8:19 PM
       Home Improvement with LC (by BRAD 20,000 [IN]) Jan 8, 2019 8:19 PM
       Home Improvement with LC (by BRAD 20,000 [IN]) Jan 8, 2019 8:19 PM
       Home Improvement with LC (by Ray-N-Pa [PA]) Jan 13, 2019 4:06 PM

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Home Improvement with LC (by JR [MI]) Posted on: Jan 8, 2019 1:17 PM
Message:

Hello & Happy New Year,

I am currently selling one of my houses via land contract.

The insurance company has asked the buyer to get a new roof.

The roofers finance company will not grant him a loan because the house is under land contract.

Any ideas on how he can finance the roof? He does not have the best credit.

Thanks,

JR

--67.8.xxx.xxx




Home Improvement with LC (by Ken [NY]) Posted on: Jan 8, 2019 1:28 PM
Message:

Sounds like a default coming soon,expect to get it back unless you want to finance the roof for him --72.231.xxx.xxx




Home Improvement with LC (by fred [CA]) Posted on: Jan 8, 2019 1:42 PM
Message:

To make the sale happen, you may have to front the money for a new roof - either give the buyer a roof allowance, or raise the selling price.

With bad credit, how is the buyer financing his purchase? --99.59.x.xxx




Home Improvement with LC (by Richard [MI]) Posted on: Jan 8, 2019 2:46 PM
Message:

Tell the buyer to borrow the money for materials and do the labor himself or get friends to help him.

Home D may give him credit on a project card. --23.121.xx.xxx




Home Improvement with LC (by JR [MI]) Posted on: Jan 8, 2019 5:09 PM
Message:

Good idea! I'll have lawyer rewrite the loan to include the roof and increase the interest rate! --67.8.xxx.xxx




Home Improvement with LC (by razorback_tim [AR]) Posted on: Jan 8, 2019 5:49 PM
Message:

My first option would be what has already been suggested - replace the roof and increase the price by more than the cost of the roof.

My second option would be to find an insurer who would exclude the roof. --70.178.x.xx




Home Improvement with LC (by plenty [MO]) Posted on: Jan 8, 2019 5:52 PM
Message:

Why exactly are you selling to this person! What repair is going to be next? Find a different buyer. --99.203.xx.xxx




Home Improvement with LC (by BRAD 20,000 [IN]) Posted on: Jan 8, 2019 8:19 PM
Message:

JR,

My experience with insurance underwriters/inspectors is that it really does need a new roof.

A lot of things can be wrong with a house but if the roof is bad the rest of the house will deteriorate quickly, esp in. LC arrangement.

BRAD --73.102.xxx.xxx




Home Improvement with LC (by BRAD 20,000 [IN]) Posted on: Jan 8, 2019 8:19 PM
Message:

JR,

My experience with insurance underwriters/inspectors is that it really does need a new roof.

A lot of things can be wrong with a house but if the roof is bad the rest of the house will deteriorate quickly, esp in. LC arrangement.

BRAD --73.102.xxx.xxx




Home Improvement with LC (by BRAD 20,000 [IN]) Posted on: Jan 8, 2019 8:19 PM
Message:

JR,

My experience with insurance underwriters/inspectors is that it really does need a new roof.

A lot of things can be wrong with a house but if the roof is bad the rest of the house will deteriorate quickly, esp in. LC arrangement.

BRAD --73.102.xxx.xxx




Home Improvement with LC (by Ray-N-Pa [PA]) Posted on: Jan 13, 2019 4:06 PM
Message:

Home repairs are part of the ownership process.

It sounds like your buyer is underfunded

What does your agreement say about repairs? --72.23.xxx.xx



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