All Forum Posts by: Bill B.

@Russell Brazil

I may have misunderstood from the beginning. I understood the wording to be basically “in case the seller doesn’t pay what the listing says he’ll pay” (he welches/defaults on money owed). You’re talking about a listing that says the seller will pay nothing, or less than a standard amount? That makes more sense. 

If the OP made this same mistake they can alleviate any worry’s by simply looking at the detailed listing and making sure the seller is offering a buyers commission?

@Russell Brazil

Thanks for the info. Could it be a recent change or an east coast thing? Do you get paid directly by title company or is there a way the seller could escape paying you? (If you were the buyers agent.)

@Russell Brazil

Are you sure “that’s simply how the real estate market works in the US” Russel? I’ve never seen a line in any sales contract from any realtor that says I’ll have to pay the 3% commission if the seller doesn’t. 

1st. How can the seller not pay it? Isn’t it take out by the title company?

2nd. You get to the closing table with every last dollar you need to close and then the title company says “ you need an extra $6 or $12 or $15k to pay the 3% sales commission because for some reason we didn’t force the seller to pay. Oh, you don’t have it? Guess the deals off, we can’t close. “

I don’t know how they would try to force you to respect a contract saying you would pay it AFTER the seller didn’t respect the contract and pay it. In the closing statements I’ve seen the seller never even handles the money that’s going to the realtors, the title company subtracts it from the net sale and makes checks out to their brokerages. 

If you simply meant they’ll have to go with a different realtor if this realtor has forced something in that no one else does, forget everything I said, and do that instead. Maybe go with the listing broker and offer them both halves. Do you have it in your contracts?

I’d probably make sure they got their entire 90 day notice heartless of them agreeing to less. 

So....as I think of how to work it...

Give them a 90 day notice of rent increase and start the higher rent September 1st. 

Then your options are, keep them on mtm, some people like that (I prefer leases, but it’s an option.)

Offer them a lease that starts August 1st, the day after their current lease ends with the same rent due for August, increasing to your desired rent September 1st, and ending in 10 or 22 months, so you get back to a lease ending in June, a better end date for me at least. 

I charge an extra $50/mo for mtm over leases. If you aren’t willing to let someone move in with a mtm, why let them stay at mtm? It goes both ways. Do you have a bad time fo the year when it will suck if they move out? In Vegas we want vacancies far and away to fall during the first month of school vacation. failing that, anything but dec 1st to Jan 31st is better than those 2 months. 

At least with mtm you can bump it an extra $25/mo anytime you want, who’s moving over $25?

If you meant me Sarah, your response to  “making a killing in buy and hold” is how many people are wholesaling and how many are flipping? Pry 100’s maybe 1000’s, but what’s that have to do with buy and hold?

Hold the news, sure there’s a few billion in new construction and and remodeling, but one guy who owns one property is selling it? And he’s the ultimate Vegas bull? Why would the ultimate Vegas bull own one property here?  Shoot, we all better sell. Did you ask why? Is he moving out fo the country:? Is he making a killing on an insane offer he got? Does he need the money for cancer surgery? Or did he specifically say, well, guess vegas is headed down the crapper, better sell?

Just try to spend one month, ONE, posting about great investments and areas of interest instead of don’t invest there, it’s been waaaay too good for waaaaay too long, it has to end one of these years posts.  

I thought badmouthing areas you didn’t invest in was bad until you started badmouthing people you didn’t know. Just try adding to forums instead of copy and paste negative posts. Please. They both pay the same but one might actually help someone someday. 

Why would you insult someone and their occupation/business and then say don’t take it so serious? Does that mean she knew she was lying?

She never contributes anything other than to say don’t buy vegas oh look don’t buy Vegas. sure they had the highest price appreciation in country AGAIN,, and people are still making a killing with buy and hold in Vegas, but, don’t buy vegas. 

Click on her profile and look at posts, 80% match keyword vegas and 100% of those say don’t buy vegas. 

I don’t understand the motivation, there’s never a buy this, only a don’t buy there. It was one of the reasons I promoted the need for a block, the posts are basically copy and paste. 

If you can’t buy in the city that lead the county in job growth, population growth, rent and price appreciation, where can you buy? I mean sue we don’t have income tax, and the property tax is among the lowest in the country, and we don’t have snow or earthquakes. And the houses are all relatively new and almost no maintenance, but other than those things, what’s it really got going for it?

It just gets old quickly. Anyway....

Don’t take this post so serious, it’s only an observation over months and months of zero contribution supplemented with uniformed advice. 

I have a policy from USLI through my allstate broker with 13 rentals, a primary, a vacation home and vehicles in two states. They’re “reasonable”, you need 300/300 base insurance. 

The only property I owned where grass grew was managed by renters warehouse. Their contract listed rent as $100/mo discount to the desired rent for mowing grass. Fail to mow and you’re at the $100/mo higher rent. 

Just another problem I don’t miss in Vegas. :-). Least you aren’t dealing with snow as well. 

I don’t think there was any judging. 

I think you’re right Theresa Harris’ answer was obvious and correct. 

If you posted it to learn, you’ve learned to just be honest. 

If you posted it just to learn new lies or so you can post snarky comebacks to the people giving up their free time to try to help someone who’s at least pretending to ask any honest question then job done. 

When you get 80% responses are to be honest, that’s probably the answer. 

What if it’s just a test to see if you’re a liar? Most people have heard of the Internet. What believable lie have you been telling that can’t be checked on? If I was a seller I wouldn’t want to hear any answer other than the Internet. 

My bank told you? I’m suing,. My insurance company told you? I’m firing them. Public records? (That’s basically “the Internet”.) 

What’s left? Just be happy someone’s willing to waste their time calling you back and move on. Hopefully another year or two and Zillow/offerpad/Opendoor/Redfin/etc etc will put a stop to this calling bs. 

Would be nice if the do not call list fines could be assigned to these “companies”.