All Forum Posts by: Scot Howat

And you can usually cancel those agreements at any time

2% is the sign of an unexperienced agent (in my market).  I only do 3% with my buyers

Make them come up with the difference or sell it to someone else.

If you think prices are high now, just wait until tomorrow.

Don't try and time the market perfectly - NO ONE DOES.  Buy and hold, and continue to buy until you die.  It's kind of like dollar cost averaging into the real estate market.

If it can't be rebuilt then you need to bail.  It doesn't matter how good of a deal it is.

If you can get a variance BEFORE you buy it, then that would work too.  But don't bet on that after you've already bought it.

You need to "intend" to live at the property for 1 year according to most mortgage documents.  You've had a life event, and that should easily qualify you for a new home.  Hopefully it's larger than the previous one, and that should all be fairly easy to document to underwriting.  You should be fine.

Sounds like it's in a bad area.  Classic newbie mistake.  There is a SMALL possibility that it's a good deal and people are just scared of the # of days on market, but that seems unlikely.

Hi Jeff, I'm a realtor and investor here too.  I only work in DuPage and NW suburban Cook County though.  Feel free to reach out if you want to network.  My cell phone is on my page too

Find a different market within an hours drive that works better.

I'm looking for a realtor who knows student rentals for U of I.  Looking to give a referral for a small fee.