All Forum Posts by: Michelle Smith

If you are already in a CONTRACT with your buyers agent, then no, you cannot contact the sellers agent. But if no contract exists the you are free to do what you like. Remember not all contracts are written, but implied. That being said, if your agent is not working in your best interest and doing their job fully, you should be looking for a new agent. Some agents have no problem being duel agent(for both sides of the transaction), but a lot of sellers do and put it into their listing agreement that their agent will only work for them while selling the house. So don't be surprised if you get handed off to another agent in that case.

I'm with Brad on this, 203k. The down is 3.5%, I believe. It'll do exactly what you wanna do.

Hi Ajay,

A building that is 129 years old is definitely a different kind of animal.  An old building is constant maintenance, and not doing it in the same way that you would necessarily that you would with something say, 30 years old.  You need to know how to handle her, as does everyone who touches her. If she's in a historic district with protections, you will have to deal with approval processes to get A LOT, if not EVERYTHING down to paint colors done.  And speaking of paint, yes, you would need to have every tenant sign a lead paint addendum, aknowledging it's possible presence.  If any paint is disturbed, then it must be dealt with under the assumption that lead paint is present because of the age, and must follow EPA lead paint removal guidelines which are very stringent.  Neighbors pay attention and can report you and the fines are hefty.  This is not to discourage you!  I love old buildings, have always lived in them, but it's a different way of operating.

The only thing I would caution against is using the "Zestimate" to value your property on Zillow. It's not accurate enough. They even have a disclaimer that it is only about 85% accurate. Other than that, Zillow, Trulia, Realtor.com are very much where people begin their search, so go for it!

What's the zoning like in the area? The tiny house thing maybe could fly. Lately I've been hearing buzz on shared housing communities where it's a combo of tiny houses and larger communal kitchen and rec./green spaces. Another option could perhaps be planned community of residential units with commercial and community minded spaces at ground level. If you can get the city on board with you for revitalization, they might hug your neck for it and help you apply for grants.

Thank you, Vince.  I was looking at them too; they had popped up on my FB feed.