All Forum Posts by: Jacob Cogswell

Lehi has been growing like crazy, and it's also good to look in American Fork, and Pleasant Grove. There are some older homes that will cash flow nicely. The high paying jobs in Lehi are expanding the growth on the Northern Utah County area.

If you use a licensed agent in the State of Utah then we have to use the REPC approved by the state. Which has the non assignable clause previously mentioned.

@Andrew McFarlane welcome it's a very supportive community here. What people do you need in your team?

It depends on the property personally. We did a complete rehab on a single family and it made sense to add central air. The duplex came with swamp coolers, and it's not broken don't fix it. I agree with Mike that they maybe a thing of the past, but if it works it works.

I never have. I set ground rules with my tenants from day one. If it's an emergency call 911 first then call me. If it can wait until the morning call me in the morning, and I'll come by and look at the problem. You have to quantify what an emergency is with them, and they generally don't call late.

What is a HUD home? This is a home that has been foreclosed on with a Government backed loan. Usually this is a FHA loan, but it could be a VA loan as well. When it is foreclosed on it is taken over by the Department of Housing and Urban Development. They generally show up on the market with a lower price, and it is a blind bidding process. You have to submit an offer with through a HUD approved brokerage. Once all of the bids have been submitted then HUD will decide whom the winning bid goes too. HUD homes are sold as in with no warranties, and you are required to do all of the due diligence yourself. The first 30 days on the market the bids will only go to people looking to owner occupy the home, and after that they are opened up to everyone, and can be a great opportunity to purchase a home at a discounted price.

Why don’t I just call the listing agent to make an offer on the house? You can call the listing agent and talk to them, but this is not the best move for you. That agent has a fiduciary responsibility to their client that they listed the house for. What this means is that they are required by law to look at for the best financial interest of their client. If they sign a contact with you then they become a “Limited Agent” (in Utah it maybe named different in other states) in the transaction. Then they become hindered in giving the best financial advice to both clients. That agent may know the exact amount that the seller is will to sell the home for, but they can’t tell you without breaching the fiduciary relationship with the seller. Then they can’t fulfill the best financial advice for you as the buyer as well. It does happen that an agent can represent both sides of the transaction, but they have to make this aware to both the seller, and the buyer to make the agreement fair for all parties.

#yourutahfamilyrealtor #utahrealestate