All Forum Posts by: Bill Mitchell

I used to put the non refundable deposit in escrow. Until when I asked my title agent about this, she said the buyer would still have to sign the release of earnest money form.

In other words, if you put it in escrow, the buyer backs out, you will have to get a release of earnest money from the buyer who backed out. Obviously, the buyer isn't going to release the money to you for backing out of YOUR contract. Just don't do anything fishy typically the most I will get for non refundable deposit is 3-5k.

She said the best way to avoid this and to protect yourself is to just have it made out to you.

Besides people can google search you now a days, if your active on bigger pockets, have a website and other stuff they will see you are the real deal.

So I guess if you were to have a property that was not insured, begin working on it, and it burned to the ground or something you lose your shirt?

Thanks everyone, can you get property insurance while you flip a house too? I guess that would be the "builders risk insurance" @Michaela G. mentioned

I was having a discussion with a colleague the other day who is a land lord. There is a vacant property that I was thinking about purchasing to rent out myself. The property has been vacant for over a year.

A friend mentioned on vacant properties you cannot get insurance on them. Is this correct? I would like more information thanks

File a memorandum of notice of contract at your county court house. This clouds title and they will have to close with you.

Hey Joe, thanks for the information. What are some of the common gas companies in the area? We just moved to Mansfield in the last 6 months or so from another state.

@Kevin Brown Thanks Kevin, I am fairly certain the foundation was on slab though. Do people sometimes use piers in slab foundation?

I met with a seller the other day at his here in dfw. When referring to the foundation he said he had some work done and kept referring to installed "pecs" and cost per pec ($750).

My question is what is a "pec" in terms of foundation, I may not even be spelling the word correctly

Thanks everyone

@Jackie Lange What sort of leads do you typically get from that wrap? I would assume alot of properties with less equity/ pre foreclosures that would lend themselves to subject 2.

That's kind of the point though. If the product does not perform as advertised why bother paying for it at all with such a steep cost. You are much better purchasing a high quality list from list source and just using that. I would be satisfied if even 20% of the "vacant houses" were truly vacant, but as this thread shows, its clearly not.