17 June 2014 | 14 replies
If you have someone (like your lawyer) as your registered agent then it becomes harder for someone to find you.
17 June 2014 | 10 replies
However, in this case a filing often needs to be made with the county recorders office to remove the deceased’s name from the title so that a sale can occur.With ONE exception, if the personal representative (executor) wishes to sell real property that is part of the probate estate, the property can ONLY be sold with Court approval and notice to those who have an interest in the property – and the sales price MUST be for at least 90% of the appraised value.That ONE exception is where the personal representative has been given authority to act under the Independent Administration of Estates Act (IAEA), AND, the property is not being purchased by the personal representative or his/her attorney.
10 June 2014 | 8 replies
I am an English qualified lawyer and New York Foreign Legal Consultant.
12 June 2014 | 16 replies
I'm 24 and while I make a decent amount of money at a job, it doesn't compare to a lawyer or doctor.
10 February 2015 | 13 replies
Put those numbers up here and I'll tell you what I would pay for the place.TaxesSewer and WaterTrashHeat/UtilitiesHOACap Ex and OpsInsuranceMgmt Fee - as a % (general consensus here on BP is 10%. include it even if you think you are going to self manage)Vacancy- as a %. (8% represents 1 vacant month/unit/year)
10 June 2014 | 8 replies
I will make an example to see if this fits your scenario- The realtor sets an automatic daily search in the MLS with your parameters and you get a daily email with a link to properties - When you find a property that looks good to wholesale you call the agent and provide him the deposit check, proof of funds and the conditions of your offer, he makes the offer in your name (for example on 100,000$)- The listing agent presents the offer to the owner- If the owner accepts your offer, you calculate the price for reselling the contract (let's say 110,000$) and you start looking for investor to assign your contract- You find an investor and agree a price (let's say 105,000$) and to close in the established day according to the contract you have- If the investor is willing to use your agent, then he will represent the buying side and the listing agent will split the commission with your agent (typically 3% for the listing brokerage and 3% for your agent's brokerage), which is transparent to you because the seller is the one who pays that to the listing agent.- Then you will pay part of your assignment fee to the realtor, according with your agreement (30% of 5,000$ = 1,500$ if you found the investor or 70% of 5,000 = 3,500$ if the realtor find the investor) There can be an issue - Probably the investor has his own Realtor to handle his purchases, in that case you will need to figure out something mutually agreed with your Realtor, because he and his Brokerage will not get his split of the commission from the listing agent at contract closingAnyone has a comment about this?
10 June 2014 | 9 replies
I am waiting for a lawyer to call me back but thought I would let all of you weigh in.
10 June 2014 | 8 replies
@Brian Gibbons And others Thanks Tthis is way I put in at the end SEE LAWYER.
11 June 2014 | 18 replies
@Jonathan Prewitt Let me throw out that I'm not a lawyer or CPA and this is outside my area of expertise / knowledge.
11 June 2014 | 9 replies
Realtors are bound to represent the seller unless you have a buyer representation contract with them.