Value Of Attorney At Closing
How many of you actually have an attorney review the closing documents before you sign them? Many people have told me I should have an attorney review the documents but I have yet to do so. Just wondering what everyone else does.
I think you will find that you cannot alter the collateral for the loan. That would be changing the terms of the loan. You would have to get the financial institution to release part of the collateral for the loan.
To do this you would have to have everything reappraised with and without the portion of the property that you are selling and submit it to the banks for their approval.
What are the advantages for you to do this at this time, that would overcome the problems it could cause later?
Thanks for the response. The condos are conversions. Each property has new roofs, new parking and millions in upgrades total. MLS shows me their projects typically appreciate because they sell them below market. Hopefully this will as well.
Quote:
On 2007-06-01 09:58, rglover548 wrote:
WOW. I havent heard of that sort of Sec 8 concentration in one complex. But i guess it is possible.
There are alot of buliding that are all section. They were built w/ subsidized money, so they have to be.
get rid of the section 8. my experience is they max out their heat and hot water if they do not pay for it. one of my buildings I paid for hot water and everyone was taking hour long showers and raising both my gas and water bill. There seem to be hordes of sect 8 people looking for apartments that they can live in 80 degrees in the winter and have their friends come over for hot showers.
also got tired of people who do not work all day and live off the government. The atttitude was that there was no respect or care taken for anything. The annual inspection and write up from the section 8 office to tell me to fix a broken light fixture or hole in the wall caused by the tenant was annoying as well.
My life is so much better now that I have no section 8! Less maintenance and trash to pick up. I can rent an apartment with only minor cleanup/cosmetics instead of it being totally trashed form the prior section 8 person. Lower utilities. No people hanging around all day with nothing to do.