All Forum Posts by: Manish A.

@Lynn McGeein 

@James Wise

thanks for your advice to this newbie.   Would you guys mind elaborating a little so I can understand why that is laughable or why I should find a new agent?

Thanks

Miz

Hello

My agent suggested I make an offer on a single family home with a "30 day study period" clause.  She said this would give me time to go to the county and do my homework, and if things didn't work out with the county I could bail on the offer.

Wanted to get thoughts from anyone who's used "study period" in their offers before.  I haven't heard of such a clause.

Miz

Is there any software / website out there which can analyze different neighborhood rents and costs (within a distance range), and return results?

This would greatly assist in selecting target neighborhoods for buy / hold.

Miz

Hello

When looking at single family homes, one that could either be rehabbed or demolished completely, what are the key determining factors  between new construction vs fix/flip?

Thanks!

Miz

I'm trying to understand exactly how agent commissions work.

Is this correct - When a seller lists a house, he comes to an agreement on commission with the listing agent and this is typically 6%?  What happens if he only wants to pay 4% or 2% total?

If the house is sold, and if there is no sellers agent, the listing agent keeps all 6%?  Or does the seller typically pay less commission when there is no buyers agent?

Thanks!

@Karen Margrave 

@Mark Sidorczuk 

@J Scott 

Thanks for all your comments, they are very insightful!

One more thought - is there anything wrong with the following logic?

In a hot neighborhood, isn't it safe to assume that the listing agent would have presented any new home for sale to all the builders before listing the home on MLS, so he/she could 1) sell quickly 2) avoid having to split the commission with the buyers agent?

If so, then one would conclude any house that actually hits MLS has already been declined buy local builders, therefore any listing on MLS is probably not a good buy as a tear down?

Miz

@J Scott

Thanks!  When will your book be out?

1) When you say configuration of lot - can you clarify what configurations do you consider advantageous?

2) How does one determine the finish level of sold homes - is this info available on the MLS?

3) Got it.  Hypothetically if we were to have someone do the legwork for us (zoning, set back info, etc), who would recommend do it? (agent, architect, civil engineer, etc).  Or any/all of the above?

Miz

@J Scott

I look forward to your book! When do you expect it will be released?

Thanks, I do have a couple of questions for you regarding contruction of a new home:

1) In a selected target neighborhood, when analyzing previous new home builds within say last 1-2 yrs, what exact data (from MLS or other) would you look at?

2) When selecting a particular lot, which member on your team would you suggest should be used to research and provide information on zoning requirements, maximum build capabilities, etc? Real estate agent? Architect? Civil engineer? Other?

Thanks!

@David T.

Thanks again for your valuable time.

Are you implying that "pre-approval" doesn't apply to construction loans, only to personal loans? 

Also are you implying that one must wait to have a specific deal in place w/ plan before getting any pre-commitment on financing?  If that were the case wouldn't one miss out in a competitive market where good deals go quick?

Manish