Ruined Floors.... Help!
Did a walk through on a property I sold and got back (long story) When I sold it it had new parka (spelling?) floors now in the hallyway they are heaving (sp?) big waves a section 5 foot by 3 foot. How do I repair this? Will it cost me a lot? Also some of the lamanite floor is heaving in a bedroom across the hall from bath. No idea what they did. Thanks
J
In Florida the warpage and lifting of wood and laminate floors is normally caused by moisture coming thru a concrete slab.
Has the house been flooded?
Not that I know off. It is a split and this is on the top floor. It is outside of the bathroom and it looks like some water damage on the ceiling but still hard to say. Will I have to rip it all out or what?
Thanks for the help
I think there is a www.misunderstand.The floor was installed on wood sub floor on the second story of the house. I bought the place with it installed. (former owner did it I think) So I am looking at having to redo it all. That sucks. I thought maybe just bad section and the sub-floor. Anyone else.
Sounds like a water problem. Either your hallway got flooded or their was/is a water leak. Make sure and leave a 1/8-1/4 inch gap around the perimeter when you replace the floor to allow for expansion and contraction, otherwise you could have a "tenting" problem where the new parquet tiles pop up when they expand.
Thanks I will do that. I will search out the water leak thanks.
IF the rest of the floor is not damaged and you can reasonably match the color and finish you should be able to cut out the damaged flooring and subfloor and then make an area repair.
If your in doubt call a contractor for a bid and they might be able to tell you. I have patched many hardwood and parquet flooring over the years...
[addsig]
Thanks Stockpro,
I think I will need a contactor for more than just the floor. What a mess but at least I got them out.
J
Self employment is not a problem when it comes to getting financed.. I get conventional financing for many self employed people through our mortgage company.
Other than that you should attend your local club meeting to find HM..
[addsig]
Keep in mind, most hard money lenders will only go to about 65% of the ARV.
Depending on the details, the 203k program might work for you. Check it out...
http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm
For starters:
1. Click on the "Lenders" button in the upper right portion of your screen. Click on your state, and browse the list.
2. Get a copy of your local paper, go to the classifieds, browse real estate and business sections. There will be lots of "money to loan" ads.
Good luck, Brian
Most HML will not do loans on owner occupied properties. However, there are a couple that may consider doing a 70% arv loan.
Do you absolutely need hard money? If your scores are high enough there are conventional wholesale lenders that we use as mortgage brokers that do rehab loans. Some will even do a stated income? The great thing about this loan is that it modifies into your permanent financing after the work is finished (no 2nd set of refi closing costs).
There are also some soft money lenders too. You didnt mention what area the properties are in so I cant advise if these would be possible yet.
Please let me know if you have additional questions.
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Thank you for the tips, I live in Southern IN, right across the Ohio river from Louisville, KY. Any insight on who I could contact in this area.
Thanks for the help.
Kimberly