All Forum Posts by: Lydia S.

@Mohan P.

Congratulations!!

@Victor Chen

There are some great Real Estate photographers in our Albuquerque area market.  To be successful, they typically also have the technology to do 3D tours, Floorplans, virtual staging and drone work.

@Rich Mills

Since you have a listing agreement with your Realtor, the commission you have agreed to includes what amount your Realtor will share with a buyer’s Realtor (the 2.5% you mentioned).

If there’s no buyer’s Realtor, your listing agent gets the full amount.

You’re not paying extra by letting the buyers have a Realtor representing them.

Way to go @David Torres!

@Tracey St.Julian

Most builder contracts I’ve seen stipulate that you cover any difference between appraised value and purchase price.  If you don’t and walk away, the contract likely also says you will forfeit the earnest money.

Always read your contract and/or seek legal counsel to understand your obligations.

@Douglas Turner

If I were your Realtor, I would suggest having your friend do 2 things: provide their proof of funds in advance and attend that showing as well, since they are supplying funds and/or going on the contract.

Have you discussed the funding options with your Realtor?  Make sure they know what your plans are so they can work with you rather than be kept in the dark.

@Mohan P.

A property should be delivered to you in the same state it was when it went under contract, so you should not close until the seller repairs the damage.

@Eric Carter

A hard money loan is a loan, so it’s considered financing, not cash.

@Brian Bertschi

In New Mexico, this is decided by the seller on the listing agreement.  The seller and Realtor discuss the pros and cons of things such as this, as well as whether the seller wants a see any further offers after going under contract.

These points can be amended if the seller changes their mind.

@Account Closed

What’s not being taken into account is all the profits and tax benefits of having this rental working since 1982.  Plus a 1031 would offset the capital gains concern.

How did you come up with a current sales price of $220K?  There’s still significant competition for housing in most of the US which has driven pricing up.  It wouldn’t surprise me to hear your estimate is low.

If you want higher cash flow and have all that equity, why not do an exchange into a multi family?