All Forum Posts by: Sreenidhi S.

Im about to purchase a new construction. I want to know if HOA can restrict me from selling if i own it for less than a year? I want the flexibility to be able to sell whenever i want. I just want to make sure HOA cannot impose any such rules before i enter into contract.

I found out that if i pick openlisting.com or reali (reali just has a flat fee), i get maximum returns from buyer agent commission. 

Ill be buying a new construction townhome in milpitas  and i will probably pick either reali or openlisting. 

So far the returns are as follows

reali: 13.5k

openlisting: 11.5k

redfin: 3.5k 

Has anyone had good experience with reali or openlisting and would recommend one over the other? 

"Given that their top marginal tax bracket is about 45.4% for Federal and State income taxes, they get about $1460/month in tax refunds from the deductions. This money goes back to paying off their following year’s property tax, home insurance, and some of the mortgage." 

What $1460/month tax refund is he talking about?

Thanks @Marcy Moyer. That was helpful.

 Yes. I did and they said i could. But the person i was speaking with did not know i was already on priority list.

@Marcy Moyer I asked the builder and they said buyers agent gets 2.5%

Im about to put 3% down to book a townhome is milpitas. i haven't visited the physical site yet but got on their priority list through their web site.  I want to get back as much money as possible so im thinking of going with redfin or some other realtor who can give 1-2 % back. I'm assuming this strategy should work fine because any realtor wont be able to negotiate price down with the builder (who will go with the next person on the list if im not happy with the price) 

Since I'm already on their priority list, can the builder refuse to pay buyers agent commission? 

Thanks Alex and Marcy. 

Parking arrangement is  2 car tandem garage. 

Master bedroom has its own bathroom.  Another bathroom is shared is between two rooms. There is a half bathroom which can be shared by everyone or just the tenants. 

From your numbers

Master bed with one assigned parking 1400

Small bed with one assigned parking 1200  ( I will take this one) 

Small bed with no assigned parking  1100

I confirmed HOA with builder.

What is the property tax % i should consider into my calculation? 

Thanks for the advice. Ill reach out to you soon. 

Marcy, 

Thank you so much for the comment. I did not know that. HOA has the restriction where owner has to stay in the property for atleast first year. It is good that you mentioned this.

 Im revising my numbers. Im thinking i can get 1200 per room. 

Here is the calculation i have so far.

30 year mortgage at 4.375% with 20% down gives me $3675 per month

$628 property tax

$275  hoa

$100 insurance

which puts it at  $4678 

Assuming i get 1300 per room, ill have to pitch in 800$ more to break even.

I have no problem paying 800 more out of pocket. 

My thinking is instead of paying towards rent, i will be paying towards equity. And overtime, the value will appreciate and i can refinance and break even. 

Thoughts?