All Forum Posts by: Bob Romano

@Alex Dem that's what i'm saying. The deposit should be what i'm comfortable with. I know peoples that put down $1.00 or $1000.00 Not 10-20k . I think he wants that amount up front to cover his commission! We do not have any exclusive right to buy signed at all. I have been using him because i knew him for a while and it dose not  cost me anything on my end. But if hi is going to continue to make me put up this large amount, i guess he is costing me !!!! 

Thanks Jon . I will keep you posted how it turns out.

@Michael Plante  He does not bring me the listings, I find them and call him to check on the property to see how it looks and any offers yet. I guess I can just call the listing agent myself next time .

@Jon Holdman Hi Jon. So I can write my offer as financed but still do a 10 day close, contingent on title search and inspection? My HML said he will give me proof of funds statement to show the money is there.

@Michael Plante thanks mike. Yes I intend on holding the property for 2 years and then refi to cash out my hard lender. 

It's my realtor ( the buyer agent) that said I have to put a deposit up. So your saying I should of just called the listing agent and put the offer in directly? I went thru my agent simply because the seller pays him , and I didn't want him to get mad that I didn't use him, am I missing something? 

@Wayne Brooks Hi Wayne , the 10% would have to come from me, not the private lender. So i was just looking at not putting anything down so i didn't have to use any of my own money. 

Thanks for all the input guys , much appreciated! 

@Matthew Drouin Hi Matt, even if it is all cash? There is no other offer on the table . He had 6 open houses and no offers yet. Its been on the market for 70 days. 

I am about to make a cash offer for a SFH, my realtor insist that I still have to put at least 10% down ( he wants 20%) I said " why do i have to put anything down when we will be closing in 10 days on an all cash deal of $215k ? He insist you still have to put something down to show Im serious.

Is this normal?