Hi Vera, I am Dwayne from Chicago and I want to give you props because I have a great many relatives there including my beloved grandma.

Ask the great people here anything your heart desires related to real estate.

(probably gift from relative if that), desire for this house - incredible.

:lol: Actually it was a real question because I have heard from relatives that you don't get the opportunity to buy land in Hawaii... you only get to LEASE the land for 99 years.

Somewhat related to this discussion, I have heard instances of investors including a "discount" in their offer/purchase price if they purchase properties with 100% cash.If this is common practice, what kind of discount are we talking?

When in that position, build a smaller, middle-end home so that if other builders put together more expensive projects, you are the first to sell; and if they go slightly cheaper, you still have not put yourself at too great a risk.b.The other interesting dynamic at play here, is that the value of the homes rise during the later phases, while costs remain relatively stable.

Talking to the other tenants in the building (they have relatives and friends)7.

They are all very different. 100-125k should be a good cushion to have; but the object is not to use it.The old addage is you make money when you purchase the home not when you sell it.

You probably don't want to hear this but....the person uphill has the water right of way...so the only way to check this is to have your lot surveyed to find out what the FF (finished floor) Elevation line is of your lot relative to the property that is draining to your friend's.

Executed Broker Loan Fee Agreement, if applicableAdditional items required to approve, document and fund the loan1.Appraisal Report by an approved appraiser2.Formation documents of the Borrowing Entity (LP1) and Tax I.D. number3.History of property ownership if purchased from a related party4.Closing Statement for the property (or proforma closing statement if under contract)5.Joint Venture agreement (if any)6.Preliminary Title Report with underlying documents7.Geotechnical Soils Report8.Phase 1 Environmental Site Assessment 9.Site plan (with units plotted)10.Grading Plan 11.Architectural drawings with specifications12.Architectural agreement (if any)13.Engineering agreement (if any)14.Construction Contract (if any)15.Insurance broker’s name, address, and phone number (builders all-risk, general liability)16.Independent cost review may be required17.Related Debt Certification (Loans To One Borrower)Notice of Right to Receive a Copy of the Appraisal Report Here is the info to help you out.