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All Forum Posts by: Bryan Tasumi

Bryan Tasumi has started 41 posts and replied 70 times.

NEW Question: Is obtaining a mortgage from a close family member same as paying with cash? Is this type of financing viewed in the same manner as cash or more negatively? 

Thank you for all of your responses. Upvoted all of you. I will upvote any additional posts/insights as well. Thank you.

Originally posted by @Bart H.:
Originally posted by @Bryan Tasumi:

I am in the process of buying a single-family home in Texas from California (out of state). Is there a way to ensure that a home you want won't be taken by someone else? What is the best way to ensure that the seller knows you are interested and willing to place higher bids? Should you let your buyer's real estate agent know that you want them to keep track of any bids on the property? Will they take advantage of this and try to make you bid higher to get a larger commission?

Since I am out of state, I want to be able to fly over to Texas and see the property before submitting my offer. How can I do this if someone else makes a bid before me?

Any insight would be appreciated. Thank you.

 Bryan, I don't know where you are looking but right now at least in Dallas its flat out nuts.  In the last month I have big on 4 or 5 properties, my bid was over asking, most of those all cash and not a single one of those was accepted.  Every one of those properties had multiple bids on the first day (or by the realtors deadline, ie over the weekend), none of those situations had the realtor ask for final and best. We had another property we passed on that had 35 offers.

I only tell you the story because In the DFW area, if its a good deal, there are multiple offers, people are offering before they see the property.  IF you book a flight to come to Texas on a house that is a great deal, imo you will be too late, the market is just that competitive.  Heck many of the houses I see listed the realtor wont show the property until there is a signed contract.

I don't mean to be negative, I think Texas can be profitable, and I wish you well, just trying to give you a heads up on what I personally am seeing in terms of the competitiveness of the DFW market.

 I am buying in the Houston, TX area. Is this a good market for real estate growth? How competitive compared with Dallas?

Should you let your buyer's agent know that you'll be paying cash? What are the positives and/or negatives to doing this? Is this mandatory if you only will pay in cash? 

I am in the process of buying a single-family home in Texas from California (out of state). Is there a way to ensure that a home you want won't be taken by someone else? What is the best way to ensure that the seller knows you are interested and willing to place higher bids? Should you let your buyer's real estate agent know that you want them to keep track of any bids on the property? Will they take advantage of this and try to make you bid higher to get a larger commission?

Since I am out of state, I want to be able to fly over to Texas and see the property before submitting my offer. How can I do this if someone else makes a bid before me?

Any insight would be appreciated. Thank you.

I have already done my research online and I have found some houses that I like. I am afraid if I don't purchase now it will be gone and there will be no other houses better than what I am looking for. Will there be better houses than those currently on sale? I need to purchase now for a job so it will have to be within the next month or so.

So do I have to use a mortgage broker in Texas or in California. Which one would be better?

I will be buying home in Houston, Texas. I am from California. Where to get mortgage? Where is the best place for me to get a mortgage in this case?

I currently do not have a job in Texas lined up. I am currently living in California and have an online business making over 70k per year. The house I want to buy in Houston, TX is 250k. 

Thank you.

Thank you guys so much for the insights. Where can I get more information on the restrictions placed on this property? Will a buyer's agent tell me everything? Can I look at the Texas government website to see all of the details on this income-restricted property? I want to know everything as I have so many questions. 

Is this worth it for only home-owners? Would this be a NO DEAL if you want to buy and hold or buy and rent?

Originally posted by @Eric C.:

It will be income restricted on the buy and the sell, and will also have numerous limitations on renting, etc.  

 How do you know this? How do I read more on the restrictions (before, after the sell, in the future, etc.)? I never heard of this as I thought all real estate is free market.