All Forum Posts by: Cave Johnson

Thanks Mike good info. The buyers are still out there and they can still get good rates on loans. If rates rise and slow down buyers then we might see a small drop in costs.

Most lenders on new construction will want an appraisal and lend 80% of construction cost after they take out the lot value. So a low lot cost may help on your portion deducted out for lot. Put together a good cost estimate to show them. And figure in soft costs and monthly interest for about a year if you are going to sell it. You won't have PMI if loan is less than 80% of appraised value.

Brent,

I would like to make an offer on this property, 316 Forest Grove, Richardson TX, 75080. I can close in 10 business days. As is, pay all normal closing costs. Let me know if you want to do an actual contract or wait and see where I fit.

thanks,

Cave Johnson

Kevin,

I'm looking in Austin. Put me on your list of buyers please. Good luck!

I agree with Brian, let them know up front you want to learn from them but on the other hand don't ask too many questions. Most know you're not trying to take their job away, just want to know more about the overall process.

Welcome Ann. There is a webinar tonight on BP.

If you have or don't have contracts with your subs, you can still write up a simple agreement that states any extras will be paid cost plus a %. They provide all invoices for material and labor and you just mark it up by the agreed %.

You could probably call the housing department at the school and get some information. I would think most students at Baylor have cars and could go further away from campus. But remember, these are college students and they might not want to live in a residential neighborhood full of couples with children playing everywhere and the home owners might not want the college kids in the neighborhood either!

Roland,

I title company can check the title back that far. If they can't guarantee the title is clear of liens, they won't give you title insurance for being a clear title.

Try to get a bid from a foundation repair company. It is hard to estimate what might need to be done. It involves adding piers in the middle of the house and jacking up the old foundation to make it level. This can get expensive. Good Luck!