Lekisha Cole
Wholesale Deal Trouble
I have a wholesale deal I'm trying to close but the seller is asking for a 2% deposit to hold the home. I don't have the 2% to give him and I never knew that I had to give the seller that much of a deposit for him to ...
Tim Youse
Put my first offer in on a house to flip
It's probably too early to start a thread on the topic but figured I would since it's my first action I've taken since I began looking for properties several months ago.I found an REO listed on the MLS yesterday and n...
Clark Kahawaii
Worried about potential appraisal
Hey everyone,I am a new REI and I am on the verge of being under contract for a duplex here in the Dallas/Fort Worth Area. I offered $285,000 with a 3.5% FHA as I will be house hacking it. The only issue I have is tha...
David Mirza
Hubzu declined my bid even though reserve met
I bid on a house with Hubzu and my bid was the first and only bid that met the reserve price. I immediately get an email from Hubzu stating that the seller was reviewing my offer. The next day Hubzu sent me a generi...
Kayla Palmieri
Backing out after under contract
Hi! Me and my dad (contractor) are looking to get into house flipping. We took a course recently and one of the main points the guy stressed was to just "get the house under contract" asap and then do the inspections ...
Eli M.
standard contract
hey there!
will the standard contract give me an opportunity to cancel the deal if the appraisal will come in below the selling price (and the buyer wouldn't want to lower the price) ?
also, if i am not...
Phil M.
REO offer procedure questions
My partner and I spent all of our saturday searching local REO properties in our area. All together we looked at 28 of them mostly semi-attached, single-family or 2 family homes. Now, we got out of the car, checked th...
Corey Dutton
How to Protect Your Earnest Money on Investment Property Purchases
Especially if you’re buying an investment property with a high ticket price, a buyer’s earnest money deposit, or EMD, can be quite a large sum. For example, on a $1 MM property purchase, a 1% deposit of earnest mon...
Jeremy Schappert
How to negotiate away the Home Inspection Contingency as the Seller
An original thought, so far as I know
As you probably know, in 2021 & the first half of 2022 it was a seller’s market. This was as true in the DC Metro as almost anywhere else in the country. Winning offers had n...
Sam Bader
Bank asking for cash only deals
I’m looking at a single-family residence in Chicago, IL 60633 the property needs $10,000 in cosmetic repairs and the bank is asking for a cash only deal? What does that really mean?