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Updated over 9 years ago on . Most recent reply

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469
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Benjamin Cowles
  • Cape Coral, FL
32
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469
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A few newb questions

Benjamin Cowles
  • Cape Coral, FL
Posted

I hope this isn't too long but I've read and podcasted a lot now but these following questions remain obstacles in my confidence to move forward at this point so any help with any of this would be much appreciated. 

1) Between title co.'s RE attorneys and escrow co.'s, which seem to have some degree of interchangeability, how many if these do you need, and who if any can serve as a one-stop-shop? If I'm assuming correctly the attorney has a very important role here so wouldn't they be the the most cost effective point to at least start off with?

2) From the buyer's perspective who's solicited a seller to sell their property, who's real estate attorney or title co. should be used to carry out the transaction in the best interest of both parties? Most info I've found covers steps from the seller's perspective who in typical transactions chooses the title co./RE attorney but as an investor buyer I plan on taking care of most if not all the logistics to make things nice and easy for a prospective seller.

3) Also, from what I've gathered the seller would normally be the one most interested in setting up seller financing but so far I've not gathered much information on how a buyer would go about this step through their course of acquiring a property.  Upon getting a seller to agree to financing part or all of the purchase, how does the buyer who has proposed seller financing in the first place go about the next step here? 

And lastly, 

3) When making your offer, is it usually a tentative one contingent on a contractor's estimate of needed repairs? I can't imagine your calculations add up the same after you put them up to a contractor's, or do you make your offer with a certain margin of allowable difference in mind or do you make a ballpark offer or an offer 'minus repairs' before your official offer after you've brought your contractor over? And at what point do you go under contract? 

Thank you, thank you, thank you if you've made it this far and can help at all. 

Most Popular Reply

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Brian Gibbons#5 Guru, Book, & Course Reviews Contributor
  • Investor
  • Sherman Oaks, CA
3,921
Votes |
6,088
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Brian Gibbons#5 Guru, Book, & Course Reviews Contributor
  • Investor
  • Sherman Oaks, CA
Replied

1. If you had a license in FL you would be able to answer that.  I STRONGLY advise you at lease buy the Agent's Books

http://www.amazon.com/s?ie=UTF8&page=1&rh=i%3Aaps%...

2. Go to your local FL REIA.

https://search.yahoo.com/yhs/search?p=cape+coral+r...

3. You need to learn Creative Financing

http://www.biggerpockets.com/search?utf8=%E2%9C%93...

4. If it needs repairs, I would 

-buy @J Scott book 

http://get.biggerpockets.com/flippingbook/

- read all of his posts

http://www.biggerpockets.com/renewsblog/author/jsc...

Good luck!

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