All Forum Posts by: Matt Payne

@Kyler J Sloan Sounds like you have a dialog with the seller. Sounds like you have a number you want to buy it for. If you don't want representation then no problem, just go to an attorney and draw up a contract that you are the buyer and he is the seller and you are buying X piece of property for Y amount and present it to the seller. You guys both sign and give it back to the attorney and they record the deed after you pay the seller. Of course you will have to provide all the info your lender needs and the attorney costs money etc... 

To your point no one needs an agent. A lot of this scenario really depends on the seller....

@Christina Kinard you are correct, you would use your broker to buy the land from the seller. The seller's agent will pay your broker whatever the % is. No $ from you. Then once you own it, it's just between you, the contractor and the lender and the broker is out of the picture. 

It's different if there is a spec home already in the works, but regardless as a buyer you're not paying the commission....

Hi Jessica, let me know if you have not found anyone yet, my brokerage has a wide network and I could connect you with a reputable agent.

@Jordan Lockaby Hooray!

@Miles Tiglao has anyone reached out to you yet? Let me know if I can help, my brokerage has a large network and I can find someone for you. Thanks!~Matt 

@Jonathan D Clark Sr Let me know if no one responds directly to you, I can use my brokerage's network to find you some options. Thanks-Matt

@Rebecca Taylor have you synced with anyone yet? I can go through my brokerage's network and try to get you some options. Let me know. 

@Joseph Beilke In NC I like to say there are 5 main things that need to be worked through in an OTP. 3 dollar amounts and 2 dates. All 5 of these are negotiable. Purchase price, due diligence and earnest money are your $, and DD date and closing date are your dates. The dd amount is non-refundable and is paid directly to the seller. (you get it as a credit if you close) The EM is refundable if contract is terminated before DD date. The buyer is able to cancel the contract at any time for any reason, but if cancelled after the DD date then seller keeps the DD and EM. 

Even if an inspection comes back with a foundation in disrepair or the roof is about to cave in or there's black mold behind every wall, the seller is still keeping the buyer's DD if the buyer cancels the contract. Of course it behooves the seller to negotiate and try to come to an agreement, as they will have to disclose all these issues to the next buyer, but bottom line is they don't have too.

Next question is always how much is DD or EM, and it varies... We are still in a seller's market here and a high DD is strong as the seller knows they are keeping that $ no matter what. My brokerage's average DD is $5k. So some higher than that and some lower....

Give me a call or shoot me an email, I can help in your search. 

Yes, great info. If I did one for NC then no one would want to buy here. Non-Refundable Due Diligence doesn't go over well for out of state investors!!!!

I have some options for you @Karlheinz SEMMELMANN. I send you a DM.