All Forum Posts by: Jakub Bednarz

Thank you guys very much for the reply! So, my agent ended up asking verbally. The offer was 20% below asking price, home has been on the market for a little over 2 months. The seller immediately refused the offer, which was expected. However, it was really the only price I was willing to pay. I will wait longer, and if the house still sits, will offer on it again. 

When I sign the offer papers with my agent, it has a clause that states that he (the agent) represents me between now and an expiration date (residential buyer representation agreement form). What does that really mean to me. Am I obligated to only deal with that agent until that time has passed even if I am looking at a different property that may be sent to me by a different agent?  

I can see both sides to the story. However, if it is an offer way below asking price, it wouldn't hurt if the seller can hear it, before getting the paperwork filled out. 

Welcome @Christian Liebenow to BP community. Lots of great resources here! Good luck with your REI adventure.

@Russell Brazil thanks! That is how i feel.

if the seller will accept* (sorry)

Dear community!

I found a potential house that may be a good investment, but I need to offer a good amount below asking price. I found this house through an agent, and now I let him know what I would like to offer to the seller. Can he just ask the seller's agent if the buyer will accept that offer or do we need to immediately start this process through official paperwork?

I completely agree @Joe Bertolino. We have been getting hammered by some bad weather in the recent couples years, and as much as I want to hope it won't happen anymore, it most likely will. The city has grown so much, that now the flood plains have definitely change due to new developments and water run offs. 

So this brings me to another question: What do I do, if I have a tenant in a home that gets flooded? Do I let them choose, if they want to move out and find another place, or do I have to provide them with a temporary housing (hotel or such) until house gets fixed? Which depending on the extant of damages, may be several weeks... Ugh, scary thought....

Thank you guys a bunch, very helpful @Anthony Lee , @Account Closed !

When figuring out expanses, one thing that eats away most of my profits is insurance, but I assume pretty much same number for any size/year property: $1000/yr for homeowners insurance and $1000/yr for flood insurance (properties located around Houston area). What do you do? Is there any rule of thumb to improve those numbers, do you call to your preferred insurance company and get a quote on a lot of properties?

@Walter Cole let's get in touch. I am currently looking for a property as well