When considering investment property of any type, it may appear to be in top shape and without a flaw. However, looks can be deceiving, to ensure that you are indeed getting the deal of a lifetime there are some things you want to look out for, which leads us to this article “How to avoid a bad deal-five signs”. We are certain you do not want to purchase any investment property of any type, only months or even a year down the road find out that the investment property was a bad one or it is simply hard to sell when the time is right, well, here is how you can avoid these things.

Say No to Flood Regulation Lines and Flood Plains

For those of you that do not know, a flood plain is defined as level land within an area that borders a lake, pond, or river. Typically, flood plains can be determined quite easily, if you notice any indications of delta plains, levees, back swamps, or oxbow lax, this will tell you it is a flood plain. A flood plain has high instances of flooding or high water levels.

You definitely want to stay away from these areas when considering a piece of investment property. The offer for that particular property may seem too good to pass up; however, you may find yourself having to face a great deal of headaches, frustration, and even damage later on.

Say No to Rising Damp

Again for those of you unaware of what rising damp is. This occurs when the ground water flows in a vertical manner through the wall structure of the investment property. The pores in the masonry allow the water to rise and effect the entire structure. Age, Bridging, and Earth levels can all lead to rising damp.

There are many different ways of identifying rising damp. For example, if you attempt the paint the walls in a piece of investment property suffering from this occurrence, the paint will simply not take. Additionally, you will find that wallpaper will experience the same result. In fact, existing wall paper, if it has lifted from the walls, will possess stains underneath.

Take a moment to feel and inspect the plaster walls. When feeling it, test it to find if it will flake easily or feels soft and spongy. Furthermore, inspect the way the plaster actually looks, if it looks like crystals or a powdery substance, the investment property likely has rising damp. Further indication of rising damp may include falling or fretting mortar, skirting boards, mold, or rotting floorboards.

Inspect for those Annoying Pests

Pest inspection should be one of the very first things on your list when looking into any type of investment property. It may cost you a little bit of extra money, but in reality, the inspection alone could result in actually saving you money at the same time, not to mention the hassle of dealing with pests.

Peace of mind with investments comes with having a pest inspection done by a professional service. With a professional pet inspection, the property will be completely inspected and you will receive a report with findings on pest issues, such as termites. Experience, knowledge, and reputation all must be considered when looking for a pest inspection service.

Summary:

When you are looking into investment property, the one thing you want to stay away from are bad investments. A good deal, comes with a great price and sound surroundings and structure. Anything less, may point to a really bad investment. Find out here, what you should be looking for to ensure you end up with a good investment.

Brooke Hayles
http://www.articlesbase.com/investing-articles/how-to-avoid-a-bad-investment-property-deal-50722.html

How to Avoid a Bad Investment Property Deal is a post from: Mold Testing

Black mold has become a dreaded problem for many homeowners. This mold can cause severe problems for people with allergies or respiratory conditions. Once this toxic mold has been diagnosed, people are often ordered to vacate their homes until cleaning companies come in and rid the house of all mold spores. Companies that clean mold are reaping thousands of dollars every time they diagnose the problem. Because the business is unregulated, companies are free to charge enormous rates for the mold cleanup and there is no guarantee that they fixed the problem. Insurance companies are at the mercy of the diagnosis because failure to pay can result in enormous liability problems. Homeowners have been displaced for months on end because of the wrangling between insurance companies and cleaning companies.
A) Cleaning companies must conform to government regulations and inspections while performing their services.
B) Black mold is probably not as serious a problem as some are saying it is.
C) Insurance companies may feel that they are being unfairly charged for the cleaning costs of mold.
D) Insurance companies shouldn’t pay for something they feel is unfairly priced.

C) Insurance companies may feel that they are being unfairly charged for the cleaning costs of mold.
see paragraph: "Companies that clean mold are reaping thousands of dollars every time they diagnose… Insurance companies are at the mercy of the diagnosis…"

would you help me with my HOMEWORK PLEASSEE??!? is a post from: Mold Testing

David Home Inspection Services, specialize in the pre-purchase and pre-sale evaluation of single and multi-family residential properties. DHI inspects both new and pre-owned homes, condominiums, town-homes, duplexes, manufactured homes (aka mobile homes), modular homes, and small commercial properties. We are also highly proficient at inspecting foreclosed homes or homes in foreclosure.
At DHi, we strive to provide the home buyer with a level of service that matches the significance of the purchase they are about to make in all probability the single largest investment of their lives. With every inspection comes years of education, training and professional experience. Your home inspector will share this special knowledge with the home buyer to ensure that their investment decision is an informed one.

Contact us at 626 629-8499
http://www.BestDealsTVshow.com

Duration : 0:1:10

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David Home Inspection on Best Deals TV Show is a post from: Mold Testing

I had an offer on my home and the contract was ratified. The buyer had seven days to conduct a home inspection. They did and the home inspector made several damaging statements that turned out to be wrong. Most significantly the inspector stated my roof was leaking in four spots and had mold and moisture damage on the sheathing. A week later, a professional roofer inspected the roof and found no damage. Although the roofer did state the roof needed replaced (shingles) – but there was no leaks. The same inspector also stated that the electrical installation of our split HVAC system was faulty and a fire hazard. We had this professionaly installed and have a statment stating that it was wired to code.

The buyer stated in their release statement the reason was unsatisfactory home inspection. My question is can I/should I sue/seek settlement with the home inspector’s company in that by my calculation their employee’s lack of professionalism cost me the deal?

I agree, you’d be better to look for other buyers at this point. You could sue… you can always sue, but it will be costly and time consuming to prove their home inspector was purposely trying to skew his estimate of your home’s worth. Unless you know and can prove he’s done the same thing with other buyer/sellers. Then a lawyer might have a larger ground of evidence to work with.

However, if this buyer returns and tries to offer a much lower bid, offer to take the advice of a third home inspector which both of you will agree on to be impartial. You split the cost, so he’s not hired to protect the interests of either of you.

Selling house, buyer’s inspector stated roof leaking – buyer walked, professional roofer disagrees-can I sue? is a post from: Mold Testing

I am in the US Army and have a VA Loan certificate. I’m located in NC, I am a first time home buyer and I havent got approved by the bank just yet to get the house. Already(3 days after signing a contract), the Realtor is asking for ernest money($500), appraiasl cost($400) and inspection cost($500). Also the bank told me that the closing cost will be around $5,000(realtor is fighting with the bank to place it within our loan). Realtor told us it could be done.

1.Is it true that that the realtor needs the earnest money 3 days after contract?
2. With a VA loan and first time buyer, do I have to pay for the appraisal or does the seller do that?
3. Can they make the seller pay the closing cost?

House cost $215,000 (2700sqr feet on 2 acres) and we made an offer for $210,00 because the realtor told us not bid so low…so we did(house needs repairs as in painting, triming, moulding, ect..

I need help being that i am new to all this…

We used my husbands VA loan in January 2009. We had to have the earnest money the day we made the offer on our house, and yes you have to pay for the appraisal and we also paid for the inspection, the inspection is an option but I would never buy a house without having one done. Our house was on the market for 129,900 we offered them 111,500 and that they pay full closing costs. They accepted because they were PCSing in a week and wanted their house sold before they moved. The house was on the market for 1 month. It took 21 days for us to close on our home. Good Luck!!

Do I pay for the Appraisal if I have a VA Loan? is a post from: Mold Testing

We are in escrow on a REO home in Lancaster, CA that we offered 200,000 and as part of the escrow process it was officially appraised for 210,000. During our home inspections we found that there was a leak from the master bath where a few tiles had come loose (we think the previous owner accidentally knocked a hole in the backer board when redoing the drywall on the opposite side of the wall). After seeing this we had a mold inspection (which came back positive for water damage and common mold in the drywall), and have an estimate by a licensed mold remediation contractor for the repairs. Our Realtor has told us that the bank should lower the home price for the costs of the repair but my question is whether we can still borrow our original offer price and use the extra cash to make the repairs. Due to our financial situation (banks don’t want to count capital gain as income anymore), we are already putting 60,000 down for the loan and it would make more sense for us to get the extra cash from the loan then to take it from our personal saving. Is this doable especially considering the house is worth more than the adjusted price would be after we negotiate for the repairs?

Please don’t post anything trying to get me not to buy the house. This is the perfect house for us and all other inspections have come back fine. Once the repairs are made the problem will be fixed and it’s not worth walking away from the perfect home because of something fixable.
Just to clarify why I think this may be possible. I know you can borrow against the equity in a house you already own and this home is appraising for more than our offer. The lowered home price we be counted as a "credit" for needed repairs, although I’m not sure on the details on how this works. Also in response to one answer about the ability to actually buy the house, yes it is able to be bought and the banks actually have protocols for reducing prices based on mold.

Oh and thanks for the one "yes" answer but do you have any more detail to add?

Generally the answer is no.

However, In some cases you can get a loan to do the repairs. That is usually a loan that is put in second position behind the first loan that is only for the property in it’s present condition.

It is my understanding that FHA has some programs to provide a second loan to pay for repairs where a home that you are purchasing needs some fixing.

The lender who is selling the home should have some information on this program.

If we have the sale price lowered on a home for repairs can we still borrow the original offer price? is a post from: Mold Testing

I’m looking to build an 1800-2000 sq ft home in Livingston, LA. What is the cost to build?
I know you’d need to no specs but the only features that I am adimant about having are a sunken LR, brick floors in the kitchen, wood trim instead of crown molding….nothing too fancy.
And it will be 4 BR and & office (or 5 BR).

My bro does countertops & floors (yes,he’s licensed). I’m not too sure (w/not having a license) how much we can do ourself & pass inspection; so if you can let us know that too…thanks.

As you can tell, I’m new to all this so all advice is greatly appreciated!
Also, the front will be stucco & the rest will be bricked.

Lumber prices don’t vary that much across the country, but labor does.. I can’t imagine that you could do everything yourself unless you have some experience. Plumbing and electrical are better left to professionals, and in some states a permit will only be issued for these trades if you are licensed. Drywall, while not requiring a license to install, is not something to mess with unless you’ve done it before. You can save money by doing floors, cabinets, counters, painting, etc, but the big trades are nothing to mess with yourself. You can probably build for $75 a sq ft doing some work yourself.

Cost to build in Louisiana? is a post from: Mold Testing

Here is a short demonstration of the use of ComposiMold. Low cost, easy to use, and reuse. ComposiMold is a reusable mold making material that works by melting and pouring. Many casts can be performed using the same mold. ComposiMold is good for the mold maker and craft artist because it can be reused to make different molds without worrying about wasting mold making material (such as urethanes, silicones, or Alginate). ComposiMold is an excellent material for those wanting to learn and become involved in sculpting, modeling, and mold making without having to worry about mistakes or wasting material. ComposiMold is flexible, rubbery, molding material that can be melted poured and reused. This material is a thermoplastic mold making material that is great for small mold parts using many different casting materials including plaster, cement, epoxy, polyurethane, and others. ComposiMold can be used for molds, mold making and as a resin.

www.ComposiMold.com for more information on ComposiMold.
www.ComposiTherm.com to order your own ComposiMold

Duration : 0:0:51

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Reusable Mold Making Material, Making parts without the cost. is a post from: Mold Testing

I’m looking to buy a house with mold (anyone who’s going to say "NO DON’T DO IT!" can go away right now) I’ve already had several specialists out to do inspections and they all said that it’s confined and can be removed. Luckily the area I want to have it removed from is an area I want to remodel 100% so I’ll be stripping & gutting down to the studs allowing 100% mitigation (I have a 100% removal warranty so again if you’re going to say anything along the lines of "it will never be gone" lets just pretend that I WANT to die of mold poisoning and move on….)

How do I obtain a lender for the house, what special things do I do? (does asking to put the cost of the mitigation into the loan make them feel better about it? etc.. etc..
What steps can I take to make this look better to a lender (planning on putting over 20% down as it is so..) What else?

The FHA 203K program is designed for purchasing homes in need of repair. You can find a lender in your area that offers the program on the HUD.gov website in the resources section under "Lender Locator". You will need to submit a plan for your repairs to the lender for approval and they will disburse the proceeds as repairs are completed. For sure the lender will require you to document that the mold problem is contained and can be removed. Closing costs are a bit higher than a standard purchase loan due to the disbursements, but I assume you’ll be getting a good price for the home so it should be worth it.

What steps to take to obtain a lender for a house with mold? is a post from: Mold Testing

I bought this house in April and had a house inspection and now I am having problems with moisture in my attic. The inpector reported no problems but do I need to reinsulate my attic and is he held responsible for the costs that this will need to fix? Can I see if there is mold? Thank you

You may need to add some? Did the report say insulation sufficient! I doubt that he could be held responsible, but you could ask for money back? Which you will never get. If house is older or temp is unusually cold insulation may not be sufficient. In severe cold you wil have frost on underside of roof sheathing!

Do i need to put new insulation in my attic due to moisture? is a post from: Mold Testing