All Forum Posts by: Lydia S.

Hey Chris, a few thoughts here.

Considering that office is not attached to the house, I wouldn’t add any footage to the total home square footage; however, you could advertise that office space and amount of footage and amenities in your remarks.

If you're a Realtor or are using one for the sale, your local MLS may have fields dedicated to additional footage for other buildings on the property, such as ADU's.

The other point is that typically, perhaps depending upon location, a space needs to have heating to count in the square footage, which this office doesn’t have if I understand correctly.

Consider contacting an appraiser to inquire about how they would handle this space on an appraisal, or a Realtor.

@Alex Thomsen

I agree with Jason that it’s an excessive deposit and with his speculation as to why.  
Does the sales rep know you’re an investor and not an owner occupant?  Perhaps that’s another reason they want a large deposit.

Maybe consider obtaining your own lender for financing. And your Realtor would know more about what’s typical with new construction in your State, but I feel they should be fighting for your interests, and be the one having the conversation with the sales rep about a reasonable amount for the earnest money deposit, on your behalf.

Glad you haven’t signed anything yet and hope you manage to come to terms that work for you.

Keep us posted!

When you say that the seller is being pushy, does that mean you’re dealing directly with the builder’s sales representative?  What’s your contract say about earnest money and why didn’t you consider your own representation by a Realtor?

The contract should have outlined the amount of earnest money you deliver.

@Boris Shemigon

Why do you need to move out during the sale of your home?  

Save the money, clean it till it shines, maybe basic improvements like a few new light fixtures or at least matching/bright lightbulbs, maybe a few new faucets, some paint touch ups and sell.

If you’re hiring a Realtor®, they can tell you pricing in current condition versus pricing with a few minor changes.

@Travis Hardy
Curious to hear how the appraisal goes.  Hopefully without a hitch🤞

@Toby Fellows

You are correct, you need to ‘hang’ your license under a broker in order to practice real estate, and most brokerages require you to become a member of the National Association of Realtors as well.

While you are preparing and taking your courses, contact several brokers and interview them to find out who might be a good fit.
There are likely some that have a lot of investors.
Find out what they offer as far as education and support, what their fees/splits are and what their expectations might be.

Remember, you will need a certain amount of continuing education hours, and you will want a Brokerage that has the support you need to help you through your contracts and answer questions. If you’re lucky, you will find one that has a lot of Realtor/investors to learn from.

Ask around and good luck!

Welcome to Bigger Pockets, Christine!

@Cody Culberson

A few things that catch my attention include the mix of gold tone and silver fixtures in the kitchen and bathroom.  

Shoot for consistency.  It may lead people to wonder ‘if the seller left some of the old plumbing fixtures and towel bars, etc, where else were corners cut’.

The kitchen appears rather small and even an island on wheels would add more counter space.

As mentioned previously, curb appeal and staging would absolutely make a difference here.

Good luck with your sale!

@Ariana Grace

Open houses are a great source for first time buyers as they often don’t have a Realtor yet and are just looking.  Remember though, they may take a few years to be ready and will appreciate the education you can provide, which is why you stay in touch until they are ready and able.  Afterwards, they become a great resource for referrals to other first time buyers because you did such a good job educating and not giving up on them like many other Realtors do.

Or get together with Lenders and create first time home buyer classes.

 You are referring to seller financing or an REC/wrap, rather than an assumption.  The seller may or may not be willing to accept one as they are not free and clear from their mortgage until the buy-out.