Kev Pito
Buying residential to change to commercial
19 February 2024 | 2 replies
Can my offer have contingency for phase 1 passing in addition to rezoning approval?
Cayton Green
Lender changed Loan terms day before closing
19 February 2024 | 6 replies
For anyone purchasing a condo, please do not remove loan contingencies before learning whether the condo project has been cleared by underwriting.The appraisal is typically an out of pocket expense, similar to the home inspection, that the applicant will be responsible for whether or not the loan closes.
Anton Ivanov
How I built a portfolio of 35 rentals and $10k+ monthly cash flow
23 February 2024 | 387 replies
What is your contingency plan if this trade war and stock market volatility trickles down into American real estate and property values drop 25 to 40% in the next few years?
Gene Jung
how to start: what would you do in this situation
17 February 2024 | 1 reply
There is also "No Prepayment Penalties" so you can refinance in as little as 6 months.The All cash purchase allows you to get a better deal since the seller knows you can close quick and usually "No contingencies/No appraisal".
Lisa R.
Asking price for a property I own
17 February 2024 | 29 replies
You'll be up against agents who negotiate for living who understand contracts and contingencies inside and out.Totally doable for sale by owner.
Zak Cooper
Creating the ultimate Seller / Owner Financing Checklist
16 February 2024 | 5 replies
Purchase Agreement: - [ ] Property Description - [ ] Purchase Price - [ ] Down Payment - [ ] Financing Terms (Interest Rate, Repayment Schedule) - [ ] Closing Date - [ ] Contingencies (Inspection, Appraisal, etc.)2.
Chris Seveney
What Not To Do When Buying A Note
16 February 2024 | 4 replies
As a result the contract outlining the agreement is (1) full off contingencies allowing buyers numerous opportunity to “back out” of an agreed to transaction and (2) supported by a relatively small (sometimes VERY small) amount of “earnest money” which is usually refundable given the contract contingencies previously alluded to.The result is (1) a large number of contracts “falling out” prior to closing, (2) a relatively long “due diligence” period of time between initial contact agreement and closing, (3) renegotiation (or attempted renegotiation) of price and terms by the buyer And, or (4) utilization of the contract as an “option” by some “buyers” who have no intention to complete the purchase UNLESS they are able to find someone to pay a higher price.Interestingly, in some countries, such as Argentina, for example, due diligence is performed BEFORE a contract is negotiated. 40% - 50% of the purchase price is due at signing of the initial contract (what we refer to as earnest money); it’s only refundable IF the seller is unable to deliver clear title, and closings happen as quickly as the buyer can come up with the additional funds.
Ell Jay Lindsey
How is anyone making $ right now?
18 February 2024 | 54 replies
I realized that I cannot complete with all cash offers that are $1 million plus, zero contingencies, and various other advantages that institutional and very wealthy buyers have to their advantage.
Emmanuel Rodriguez
18 year old section 8 investor
16 February 2024 | 9 replies
@Emmanuel Rodriguez how is seller-financing contingent on S8?
Jordan A.
We made our first offer - Tell us how we did
17 February 2024 | 40 replies
I know OP has already passed on this one but I was with @Bob Stevens on this oneI assumed 185K sell price minus 10% or so for commissions and closing costs and wranglingso that's $166,500purchase 90 + reno 40 + closing 12 (I assumed this was points and whatnot on the buy) + 6 hold = 148K all in - 10K contingency 158Kso... 8500 profit or sotoo tight unless i am missing something (like the 12K 'closing costs')