John Young
Family status - number of children
After reading the Ultimate Screening Guide here, I think I've been doing it wrong. For my 3 bedroom, 1 bath properties, I've been saying that I will allow a maximum of 2 adults and 2 children. It looks like I can on...
Andrew Jones
Does Roadhome put a lien on the house if you owe them?
My uncle got a loan from Road home after hurricane Katrina. There were a set of stipulations to the money, things like letting renters live in each side for a certain price per month, making the house livable, etc. He...
Jeff Cave
Exclusive Buyer Representation Agreement Options -- Tennessee
My wife and I are searching for investment properties (mainly single family house - rehab and sell projects) in Tennessee. A Real estate agent we have been consulting with asked us to sign an Exclusive Buyer Represent...
Erik Carrion
Deposit money if you're going to wholesale the property?
Most purchase and sale contracts include a deposit clause. As a wholesaler is there a need to make a deposit? Should you, as good faith? Or can you avoid it by being upfront with a seller about your position?
Samuel O Medunoye
How to protect buyers earnest money
Hello everyone , what kind of addendum or special stipulation should be included in a purchase and sale agreement/contract to protect the buyer's earnest money in case you don't get funded within the due diligence p...
Jake Warren
USDA loan restrictions and how to proceed with investing
Hi everyone, Five years ago I used a USDA section 502 loan to build a house. I lived in the house for four years until my partner and I both needed to move; herself to attend grad school, myself to take a new job. I n...
Lisa Oliver
New Real Estate Commission Laws
In dealing the new Real Estate Commission Law now in play.....Is anyone else getting Engagement Contracts sent to them stipulating exclusivity and buyer-responsible commission terms?...one that was sent to me says I'm...
Zachary Gwin
FHA- Can I split an FHA loan with another partner?
Hey all,I found a partner willing to split a down payment of 15-20k. We want to apply for FHA for the benefit of 3.5% down while being able to split everything. IS THIS POSSIBLE?! If i could get feedback on this I can...
David Sirmons
Backout contingencies for REO offers...
It seems that even if you want to back out of an offer after it's accepted, you may be in for a rude awakening.
Apparently, you need some kind of provision in place in order to have an 'out' if your buyer splits or d...
Osazee J Osagie
Hard money lender not prepared to close at closing date.
Has anyone encountered this with hard money guy trying to postpone closing date and contract stipulates I will be paying steep penalties if I dont close.Is this your experience, what can i do ?