All Forum Posts by: Dennis Lozano

A savvy seller or one who is well advised may call you on this, since the whole point of using "cash" is to imply no or fewer contingencies, which you aren't offering. It might put a bad taste in their mouth. It would me. Sometimes that's all it takes to blow up a deal.

I think "quick closing" is more accurate in this case and gets your point across more accurately.

To answer your question directly, I think "buy for cash" means no financing contingency on the offer.

I'm interested to hear any responses.

I think dealing with it tactfully and respectfully will go a long way, but I think you should approach the situation with a goal in mind or at least some forethought on what you want the situation to end up looking like. An appropriate goal for the first encounter would be to gain information-- I would not plan on making any decisions or discussing particulars with them until you have some solid legal advice. I'm not sure what the laws in Jersey are, but if there are tenants and they have leases, you'll probably have to honor those. If there is any relationship between the former owners and the tenants that is information you'd like to have as well, as you wouldn't want them teaming up against you if you take some adverse action against the former owners.

Sounds pretty cut and dried.

He has no case and is trying to bully money out of you.

I'd be overly cautious in continued engagement-- what he may be doing is setting you up to try and negotiate SOME extra money, going overboard in hopes that a "compromise" will still end up with more $$$ than he deserves in his pocket.

Seems like in the grand scheme 10k for the damages is not that big a deal. With 20 potential properties from her and 40 from her daughter why make it difficult over a relatively small sum.

I'd ask her what she thinks about it but by no means force the issue... I'd probably offer to split it and see if she thinks that's reasonable.

After what you describe I would have serious doubts about this agent's competence to provide quality services... which would lead me to another agent.

Look up the legal description on Harris CAD (or whatever county it is in) then go to the County Clerk's website and pull the plat.

$100-$200 for title work is also probably a good idea... more important than the survey if you're talking about a platted lot in a subdivision. If the subdivision is relatively recent and/or a SF development, the plat is probably going to indicate all easements and setbacks that the property has on it. It could also indicate deed restrictions that may be on the property. The title work will turn up anything else.

great info. Sounds like a can of worms.

I would leave it as is.

I'm very much interested in the same thing and am wondering what you've been able to learn on this. I'd be happy to share resources, but we're just starting out so don't know much yet. Our investing profile is identical to yours with a single SFH in Austin.

Definitely. We bought our primary residence, which is in the 'dales of Windsor Park, just on the other side of Bartholomew Park, in 2006 before any of that stuff was there. The Mueller redevelopment has been a strong driver for property values in the area, and looks to continue that momentum with restaurants, Mueller's first bar, and the Alamo Drafthouse all being added either recently or in the near future. Also, we happen to know that the shopping center on the southeast corner of Berkman & Briarcliff has been purchased by an investor group and is poised for redevelopment when the current tenants' leases all run. That will apply more upward pressure to values in the area, as I think the shopping center is kind of a drag on values currently.