All Forum Posts by: Jacky Johnson
Jacky Johnson has started 41 posts and replied 81 times.
Post: Should you use the seller's agent as your own buyer's agent if you're a buyer?
- Posts 83
- Votes 9
Why or why not? Thanks.
Post: If the seller's inspection report does not contain the crawl space, is this fishy?
- Posts 83
- Votes 9
Quote from @Ned Carey:
I wouldn't go by a seller inspection report. I would get my own.
Thanks, so if I can get my own inspection report, can I make it that the offer is contingent upon no major flaw is found in my own inspection report?
Post: If the seller's inspection report does not contain the crawl space, is this fishy?
- Posts 83
- Votes 9
I'm considering purchasing a home, but the seller's inspection report did not include the inspection of the crawlspace (which I think is important) because the access was locked at the time of the inspection, is this something that is fishy for buyer's to watch out for? Thank you.
Quote from @Michael Fraulo:
Yeah, that does sound a bit off. A listing agent refusing an inspection or withholding the report unless you have an agent is unusual, especially after just 2 days on market. It could be competitive pressure, or it could be the agent trying to control the process. If you're serious about the property, consider getting your own agent to help navigate it and protect your interests. Good luck.
Yes the listing agent said a home inspection by the buyer is permissible only if the buyer's offer is accepted, I was like what?
I'm interested in a listed property by an agent. The property has been listed for 2 days and I wanted to hire a home inspector for the property because the home, although maybe a good deal, is selling about 33% below the market rate (an elder couple have been living in there before, but they passed away). When I called the listing agent to see if I can hire a home inspector and do an inspection for the property, the agent refused saying there has been many requests for a home inspection and a home inspection has already been done. But my question is that the property has been listed for only 2 days and there are so many requests already? Next I request the listing agent for a home inspection report and the listing agent said she can only email me the report if I were working with an agent, and won't directly send it to me. Does all this sound fishy?
Post: Deal analysis on property sold for only land value
- Posts 83
- Votes 9
Quote from @JD Martin:
Quote from @Jacky Johnson:
I have came across a property that is selling for about $300K and must be purchased with cash, and is sold for land value only. This entire property is two-story and has two units and a garage, and is considered to be a tear down. Lot size is around 6000 square foot and total square foot is about 1300. It's build near the 1950s with 2 beds and 2 baths. Utilities are on-site. The property type listed is vacant land. If I want to purchase this property as a investment property for renting and also for appreciation purposes. How do I know if this is a good deal? What do I need to do to make this property rentable? Thanks.
Not too difficult really. Find comparable land values in that area, that are comparable in size to this lot, with like amenities (say electric/water/sewer already on the lot), and subtract the cost of demolishing and clearing the existing structures. Doesn't sound rentable unless you're going to build new on the property.
How do I find comparable land values in a certain area? Thanks.
Post: Deal analysis on property sold for only land value
- Posts 83
- Votes 9
I have came across a property that is selling for about $300K and must be purchased with cash, and is sold for land value only. This entire property is two-story and has two units and a garage, and is considered to be a tear down. Lot size is around 6000 square foot and total square foot is about 1300. It's build near the 1950s with 2 beds and 2 baths. Utilities are on-site. The property type listed is vacant land. If I want to purchase this property as a investment property for renting and also for appreciation purposes. How do I know if this is a good deal? What do I need to do to make this property rentable? Thanks.
Post: Request to share cost in replacing part of adjoining fences
- Posts 83
- Votes 9
Quote from @Patricia Steiner:
I would just asks the question without a monetary tag; gauge interest first. I wouldn't even badmouth the ugly thing - I would just ask if they might have any interest in joining you in replacing a portion of the fence. If they seem agreeable, then you can ask if they would prefer to cut the cost down the middle or would they prefer to purchase the supplies and you will assume the cost of labor to install it. This is when your role as a landlord now becomes the role of Ambassador.
You got this. (And, hopefully a new fence).
Thanks for the advice! If they said they don't want to share the cost of replacing it, can I just cover the labor and material myself if I want to replace that portion of the fence? Do you suggest doing like this?
Post: Request to share cost in replacing part of adjoining fences
- Posts 83
- Votes 9
Quote from @Patricia Steiner:
How did you determine that? Not questioning your judgement/assessment, just trying to understand the situation to best advise you. Generally, the 'bad' side of the fence faces the owner. And, even when the fence sits on the property line, there is an argument as to ownership that can be made.
If it were me, I would ask if they would be interested in sharing the cost of replacing the fence. Their money, your labor is a potential disaster in the making; what if they don't like the install? How will the fence be maintained and by whom afterwards? And, how do you show equitable value?
It seems like it should be just so easy - and these situations rarely are...a hostile neighbor is costly. Tread lightly.
Post: Request to share cost in replacing part of adjoining fences
- Posts 83
- Votes 9
Quote from @Patricia Steiner:
Who owns the fence? If they do, you may have a chance under the scenario you're proposing - if they share your concern for it's condition (although that seems unlikely since they've been living with it the way it is for some time, it seems).
If you own it, it's pretty lowbrow to expect a neighbor to invest in your property. I would also be a hard no; I don't subsidize other people's investments.
The fence is shared by both of us, how should I proceed in this scenario? Thanks.