All Forum Posts by: John Newhall

I'm with RE/MAX and it's a great Brokerage but not where i would start my career unless I was on a team. 

Sometimes countering a H&B makes sense. If the highest offer is a low down payment offer with a shaky lender it make sense to ask a stronger buyer to match the higher offer.

Welcome Brian, 

Your going to have to do some searching to find deals in this crazy market. There out there, you just have to be persistent. 

I'll agree with the KW recommendation, even though I work with RE/MAX. KW seems to have a better training program for new agents. When you get established then different brokerages might meet your needs better than KW.

I can only speak for MN but earnest money would not be returned if they "backed out". It could be returned if they used one of the contingencies like not being able to get financing.

I'm sure the seller has a contract with Redfin. You could deal directly with the homeowner but they would still be obligated to pay Redfin the contracted amount.

The answer is-it depends. If the property is higher end you will probably have a harder time finding well qualified renters willing to pay top dollar. 

Purchase price of 10% below average sounds about right for the resale potential. Most Buyers get a little scared of potential problems with multi family buildings across the street. (traffic, noise etc..)

I'll second that the quit claim deed isn't a problem as long as you have title insurance to back it up.

 That's what I'm seeing in MN. I'll put in a very reasonable offer, for clients, and we'll get out bid. Some of these buyer's are going to keep them as rentals and hope for long term appreciation.

I would second just calling the licensing agency and ask them. In MN it wouldn't prohibit you from getting licensed but I don't know Illinois law.