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All Forum Posts by: Account Closed

Account Closed has started 3 posts and replied 13 times.

Post: putting house under contract with no agents involved

Account ClosedPosted
  • Wheeling, IL
  • Posts 14
  • Votes 10

Thanks again for you help Michael.

Post: putting house under contract with no agents involved

Account ClosedPosted
  • Wheeling, IL
  • Posts 14
  • Votes 10

@David Avery I gave you as many as i could

Post: putting house under contract with no agents involved

Account ClosedPosted
  • Wheeling, IL
  • Posts 14
  • Votes 10
Originally posted by @David Avery:

now days everyone just Googles it.  You may want to talk to a Real Estate Agent and let him direct you through it with the right forms.  You could always tell him when you get it up and running you would highly consider having that  agent sale it for you.

Most agents would do that for you to get the chance to get it listed for you later!

Best luck man

Your right, I should have looked it up before asking. That's a great idea ill give that a go. Thanks for your help David, its appreciated

Post: putting house under contract with no agents involved

Account ClosedPosted
  • Wheeling, IL
  • Posts 14
  • Votes 10
Originally posted by @David Avery:

Put an Earnest money of $10,000.  If you have those funds available!!

E.M. always talks!

Or a non returnable E.M . and that should work also.

Thanks a lot David, that really helped. That's exactly what I will do. So i pay the 10k earnest money to reserve the deal. Then once my funds have cleared I go back to him with my broker to finish the deal. Does that sounds right? Also, do you know if there's a commonly used earnest money contract for each state?

Post: Buying First Mutli Family

Account ClosedPosted
  • Wheeling, IL
  • Posts 14
  • Votes 10
Originally posted by @Carol Kilpatrick:

You'll also want to line up your property and liability dwelling policy in advance. I recommend a broker, up to 4 units goes on a regular landlord policy. A great broker will talk your thru the process, discuss your risks/coverages and help you know if you will be able to get insurance on the property or if any updates will need to be done. Thanks so much and pm me any questions! 

Thank you Carol. I will be sure to look into both of policies as well as a broker. Much appreciated

Post: putting house under contract with no agents involved

Account ClosedPosted
  • Wheeling, IL
  • Posts 14
  • Votes 10

House is for sale by owner and i want to buy in cash. I need another week before my funds clear. How could i put this under contract without an agent. ( current agent wants funds to clear before i make an offer). I want to do this to secure the deal.

Post: Buying First Mutli Family

Account ClosedPosted
  • Wheeling, IL
  • Posts 14
  • Votes 10

Ok got it. Thanks for your help

Post: Rezoning a building to turn it into apartment units

Account ClosedPosted
  • Wheeling, IL
  • Posts 14
  • Votes 10
Originally posted by @Michael Gessner:

@Michael Martinez yes they can give you an idea if it may be possible. Theirs a process for changing zoning, sometimes it needs to be voted on. You need to speak with zoning to see what they're process is and what options you have

Got it. Thank you for your help.

Post: Buying First Mutli Family

Account ClosedPosted
  • Wheeling, IL
  • Posts 14
  • Votes 10
Originally posted by @Bjorn Ahlblad:

@Account Closed Local Code Enforcement will tell you all about zoning. As a new cash buyer you will want an experienced buyer's agent-you can use an attorney. Make your offer-usually seller will ask for a current bank statement. Include whatever earnest money you agree on. Do your due diligence of property and any documentation.

Don't take broker's and seller's numbers as being completely accurate. Verify everything prior to closing that is when money and paperwork changes hands. Simple process when you follow all the steps exactly. Take nothing for granted.

So by looking at local code i can get my answer before reaching out to the local planning board? So you recommend i use both a buyers and an attorney? This property currently is being sold by owner. Not sure if that changes anything with your recomendations. Thank you for replying

Post: Rezoning a building to turn it into apartment units

Account ClosedPosted
  • Wheeling, IL
  • Posts 14
  • Votes 10

@Michael Gessner so even though i do not own it, They can tell me if it can be rezoned ?