2004-09-20 - Pam on Real Estate
PamREPC – Real Estate Purchase Agreement
house built prior to 1978, it needs to be checked for Lead Paint – most realtors will still check on 1978.
Have a copy of the disclosure before you make and offer. If you are a seller, you make a copy of it and present it to them before they make an offer. Legally, the seller is not supposed to accept an offer before the lead based paint disclosure is signed by the buyer.
As the Seller, one of your federally regulated duties is to provide your p=buyer with a copy of the “Protect your family from lead in your home” booklet. Comes in both English and Spanish. Most FSBO people don't know this. (if the house is built before 1978). You can get this from: http://www.epa.gov/lead/leadpdfe.pdf 303-312-6021 (Denver) to call about Lead Based Paint. National Lead info center 1800-424-LEAD
Housemaster is one of many home inspectors – national chain – they have a guarantee. If they said it was OK and it really wasn't they will be for the repairs.
For your own personal home...As a realtor, Pam highly suggests getting the inspection and a warrantee (1 year home owner warrantee insurance $350/unit fee - $70 deductable). Can get it for commercial as well as residential. Alliance is her preferred insurer. Seller pay for the warantee and buyer pay for the inspection (they both cost about the same).
Property Management Class
Instructor
Jack Marinello – training director of first american title agencies
Has been a property manager. Coincidentally – he was the marketing director for Robert Allen for 3 years. He is willing to come and train in one of our lunch meetings.
Hiring a property manager or to be a property manager
to be a professional property manager you have to be a licensed real estate agent.
-example-
we have a contract and we have a tenant that is coming in.
We check out the renter -
Income, Employment, Criminal, and Credit.
You can have in the contract, that if they do not pay, they have to be out of the property by so many days. Make them a part owner (like 2%) two different agreements – one is a lease, one is the option to buy. If they default, then they no longer has the same rights as a tenant, so you don't have to go through the three month long process of eviction. (are they using a trust?)
What are the legal ramifications to this? Is there a law where you cannot evict someone that has a child under 1 year old. there may be a way where they are late by three days of the payment...file an unlawful detainer – gives them three weeks before they are evicted. You say to them – from the start - that if you don't have the money to pay this, I will file this detainer and it will go on your credit report and you will not be able to buy anything with credit until it is payed. Or they need to move out somewhere else and forfeit their lease/rental agreement and you will remove the detainer.
Don't have them give you a last month's rent or a security deposit. Use a lease agreement and a security deposit. if they leave it with problems or they bail, they forfeit that money. DO NOT DO A LAST MONTH'S RENT.
utcourts.gov --- http://www.utcourts.gov/howto/landlord/
How Do I Respond to an Eviction?
If your landlord tries to evict you for a good reason, the fact that you have a baby, are pregnant, just lost your job, or have nowhere to go will not prevent a judge from evicting you. Also, if you stay after receiving an eviction notice, you could be liable for three times the daily rent for the days you stay there after the notice expires. Here are some general tips:
An eviction begins with the service of a summons and complaint. The summons notifies tenants that they are being sued and that, to protect their rights, they should "answer" (reply) within a specified period. The complaint explains the lawsuit and tells the landlord's side of the story.
You may wish to contact a lawyer in order to answer the summons. If you do not answer the summons, you will lose the right to explain your version of events, and a judge may issue a default judgment in favor of the landlord.
If you must prepare the answer yourself, respond paragraph by paragraph to each statement in the complaint, saying whether or not you agree with it. Next, make two copies of your answer. Give the original to the court at the address listed at the top of the complaint, send a copy to the landlord or the landlord's attorney, and keep a copy for yourself.
No matter how we structure our contract, if it is against state law, the judge will not uphold your eviction. they people can come back into your property and sue you for unrightful eviction.
Another idea is when you notify them of the retainer, you can say that if they move out by Saturday and leave it in good repair and clean, he will give them their security deposit back.
When you find out that they can't pay, get them out immediately and in good repair. If they cannot afford the rent, they probably can't afford a truck to move their stuff. So, if you give them back their security deposit, it gives them that money.
utah apartment owners association – look here for forms and such
posted by John Andersen @ 1:59 PM
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