All Forum Posts by: Chaim Zigelman

Hi all,

Where can I go to find appreciation rates for a specific state/city? Is there a report or graphs that I can look at?

Thanks for all the responses. When I asked about the broker fee, this was his response:

The 3% or $2,500.00 and $495.00 comes into effect once we identify a property and one of two things happen. If it's a for sale by owner where the owner is not represented by a broker, usually for sale by owners refuse to pay commissions. Or if the commission is under 3% or $2,500.00, you pay the difference. That would be part of closing costs. The one charge that is always part of closing costs is the $495.00. That is for when an agreement of sale is accepted, it covers some of my overhead in the transaction, the conveyance department in my office handles the transaction once we go under contract with a property. That entails, ordering title, gathering information requested from title, lender, insurance, etc.

If you notice below that, it states that it is policy for us to accept compensation from listing broker. All of the properties I send your way are listed with Brokers. The 3% or $2,500.00 and $495.00 will apply to off market properties. I have to disclose prior to you submitting any offer on a property. That is why closing cost estimates are given prior to submitting an offer.

Thoughts?

Thanks James. 

The contract is for one year with the agent. If I sign it, the seller would pay his commission and not me?

Hi all,

I'm looking to purchase property in the Philadelphia area and an talking with an agent there. He sent me a document to sign. Is it normal to sign a buyer agency contract and also for it to contain an agreement for the buyer to pay the agent 3% of the house upon purchase? I thought the seller usually pays that.

Thanks in advance.

thanks @Paulette Midgette

What do you think about Fairmont? It looks like a good area for renting. 

Hi everyone,

Does anyone have info on Bustleton, PA? It's in Philadelphia and it looks like a good area. Is it a good renters market? It does not seem to have many places to rent out on Zillow. Additionally, is it heavily apartments that are rented out or would a SFH rent out nicely as well?

@Danielle Jones

Thanks! I know what you mean. I am looking for a mentor at the moment. I signed up for a REIA meetup tomorrow night. Looking forward to networking and meeting people who can become a mentor to me.

I still want to consider doing investments in NY but probably not in NYC. I'll need to do some research to find the right market/submarket.

I've been reading newspapers, MLS and using websites like citydata.com to look into areas but if you have any good suggestions on finding good markets/submarkets, I'd be interested in hearing them!

I am still considering NY it's just that the price of properties in NY is extremely high. I have to do more digging into markets/submarkets where I can get in. 

Thanks Mark!

Thanks Elizabeth!

So basically if I get a property in AZ, I have to get a loan from a bank in AZ. Gothca.

So is it better to go with a large or small bank?