Skip to main content

Posts

Using real estate license at the back end when buying a condo

Hello, I would like to ask for opinions. I have an active real estate license and no experience. However, I found a condo that I like in LA and buying it. I’m using my parents’ lender for loan. When I was talking to her, she has a husband who is a broker. I said I like to learn how the whole process work in the future and she said her husband can put me in his company and do 50/50 in the beginning. Later 70/30 and then 80/20. She recommended that her husband should do the offer letter and put me as a realtor so i can save some money like $4000 to $5000. I was like okay. I thought her husband is getting $10000. Now when I look at the contract from seller, he is getting $20,000. So I feel like I was rid off which was saying 50/50 when I start working along side with her husband. Right now I haven’t paid EMA deposit yet. So should I ask for more money from the husband or should I just leave it at that? During negotiation stage, her husband offered me $6000 since I was taking my time to a
Post a Comment
Read more
Recent posts

Do brokers actually sue buyers for breaching an exclusive buyer agent agreement if the buyer decides to use another broker/agent to purchase a home?

I signed an exclusive buyer listing with an agent for 3 months when I made an offer on a home. Our offer wasn’t accepted and I don’t want to use this agent. Keep in mind I found the listing and just asked the agent to help us with an offer. A month later I’ve found another home I want to make an offer on. Is there any way that broker/agent can find out that I’ve breached the exclusive buyer agent agreement? What’s the likelihood that brokers/agents actually try to seek compensation from the buyer and go through mediation/arbitration? Side note, if I decide to cancel the agreement, I have to give 30 days notice and I don’t want to raise attention that I’m looking to make an offer on another home with a different agent. submitted by /u/Mrs_HarveySpecter [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1gvjuzb/do_brokers_actually_sue_buyers_for_breaching_an/
Post a Comment
Read more

Marriage after home loan approval

If I apply for a home loan and get approved as a married couple but don’t actually marry until after we get approved (but before actually getting the loan and buying the house), can we still be approved? Asking because it’s a VA loan and my income is the only household income so we have to be married but aren’t yet. I wanted to just apply as a married couple to see if we would get approved. We would marry before actually closing on a house. submitted by /u/K_Rod_114 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1guvl84/marriage_after_home_loan_approval/
Post a Comment
Read more

Should I be worried about buying a "niche" house

Just got my bid accepted at 10% over listing price for a 1.100 sq ft apartment on ground floor, with high ceiling (14.7ft), with the two large rooms (living & kitchen) on the ground floor (860sq ft) separated with the bathroom/storage in-between. The open bedroom is located on a mezzanine/entresol floor, accessible via stairs in the kitchen. This ceilings of this floor are 6.5 feet high. This layout fits our current lifestyle (young, no kids), but if we were to have kids we would need a place with closed off bedrooms. This also strikes the question, if we were to sell this place, would it be difficult to sell? Next to the high ceilings, the place is quite new, with a new kitchen, parking place, modern bathroom, good insulation, large windows. Only concern is the layout is not suiting families with kids or couples planning for kids whereas the house is located in a neighbourhood were people generally move to to have kids. The price of the property per square meter is lower than
Post a Comment
Read more

Investment opportunities in Rwanda (East Africa)

https://www.reddit.com/r/RwandaDesignPresale/comments/1gut56x/real_estate_opportunity_in_rwanda/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button submitted by /u/Far_Office_6211 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1gutm3y/investment_opportunities_in_rwanda_east_africa/
Post a Comment
Read more

Can I make a 2nd downpayment after closing when I sell my home?

I’m very new to this, but we just had an offer accepted on a house, we got a good price, but it’s contingent on us closing at the end of the year. We didn’t set any other contingencies. Problem, given the timeframe, we def will not be able to sell our current home by then, which means we can put down about 10% now, but won’t be able to put down the remaining money after we sell our home which will probably be next year sometime. My question… what options do o realistically have to lower the payments? Can I do a second downpayment after our home sells? If not, can you think of any other options we can consider to lower our payments since we won’t be able to put down 20% at the time of closing? I want to note we can afford to carry two mortgages for the interim until we sell, question is lowering the payment due to putting 10% (conventional loan) Thanks! submitted by /u/taviyiya [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1gu4cgo/can_i_make_a_
Post a Comment
Read more

Prospecting Pulse Check for Investors

How much prospecting do you guys actually do? And what does it look like? I hear lots of people talk about how you need to hit the phones X number of hours a day when you're getting started, or send X # of mailers, or whatever. Just want to hear what you all are doing - whether part time or full time RE investing, do you "prospect"? If so, what does that look like and how much do you do of it? submitted by /u/Odd-Profession-579 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1gu22jb/prospecting_pulse_check_for_investors/
Post a Comment
Read more

Abusive co-owner (Please help)

I'll try to keep this as clear and unconvoluted as possible, but it's been a real hell of a time for about two years now. My 77-year-old grandma, desperate to have a bigger house after (stubbornly) downsizing years ago, decided to finance a house via the help of my aunt's husband's signature. Both house title and mortage are shared. My family and I didn't like this a bit because both he and my aunt have a history of using, but they seemed to be on the right track...but still. Well, that all came crashing down. He even has active warrants out currently. He and my aunt are no longer in the house, but problems persist nonetheless. Most recently, they showed up and stole items from her sheds (stihl weedeater, grandpas tools, etc) and also cadged her engagement ring. They are scum. Upon witnessing this my grandma, rather infirmed with COPD (oxygen tank and all) walked over to the vehicle he was stashing these things in and tried to see what else he'd taken. He tol
Post a Comment
Read more

Timber company trying to back out right before closing

Buying acreage from big timber company in WA state. Raw land. Cash sale. 45 day feasibility. Feeling pretty good about things. We are a week away from closing. They paid for the survey as per the contract. Last week I hear from my agent that their agent says they want to terminate because the survey showed the corner of the property crosses the logging road on their adjoining commercial timber parcel. There is no easement. "fuck you" is my first thought. I look over our contract, no provisions that allow them to back out for any reason, let alone one such as this. Not only that, but the contract clearly shows the property line "to be hacked and blazed" by the survey, totally going over the road in question. They wait a few days and send a termination agreement they want us to sign. No mention of the road. It mentions a paragraph in the contract that has nothing to do with anything. I start researching. Talk to an attorney about suing for specific performance.
Post a Comment
Read more

Rating a bad home or apartment for rent or sale after visiting it

So I've had this issue while moving around a lot. I go with a real estate agent to visit an apartment or house for rent. I usually have a checklist that I take with me (on my phone) and make sure that most of the stuff gets checked off after making sure that the place meets my requirements. Without the checklist I have forgotten some things in the past and really regretted not making sure the place had it. Then of course there are the places that are simply bad that have all kinds of issues including things outside the home like train tracks nearby, a noisy street, dogs barking, garbage all around, and so on. I'm thinking of getting an app built to handle this. It would let others know what you thought of the place and maybe it might help them to decide whether it's worth wasting their time going there to visit. I also think it would be great to rate the real estate agent or company. I've had agents lie to me. They should be punished for this. What are your thoughts
Post a Comment
Read more