All Forum Posts by: Hornaldo Jurk
Hornaldo Jurk has started 3 posts and replied 3 times.
Post: How do you find out appreciation rates?
- Woodstock, MD
- Posts 3
- Votes 0
Where or how do I find out if an area is appreciating or depreciating?? (I want to know for how long it will appreciate for, and when it will crash.) I know no one can tell for sure, but is there a way to estimate it? I heard there's a pattern to it but how does it go? Will the whole united state appreciate together and drop at the same time? Or is it city by city?
And if it is city by city, will some cities appreciate for 2 years and then drop, while others appreciate for 10 years and then drop?
I don't want to waste time on a property that will crash real soon. Or even worse, wholesale it to a rehabber and have him lose money when the price drops way below market after he fixes it up and tries to market it for 120 days.
Post: Do contingencies and addendums apply to both me and my end buyer?
- Woodstock, MD
- Posts 3
- Votes 0
If I want to wholesale a property and put a couple contingencies and addendums to protect me on a purchase and sale agreement with the motivated seller, do all those same contingencies also apply to the end buyer? For example: "Subject to 14 day inspection", or "Buyer shall receive key to the property and have the right to show to any prospective occupants." Will we both get a key?
I am guessing I won't get a key because the person who closes the deal get's it, but if the contingency doesn't apply to me, then will the "subject to 14 day inspection" also not count?
Post: How exactly do you make a contract?
- Woodstock, MD
- Posts 3
- Votes 0
I am only planning to wholesale for now, so I know I'd need a purchase/sale contract and an assignment contract. But as I do more research there are bunch of other stuff like notes and deed contracts. If you go to an attorney to create a contract, do you pay for each and every contract that he creates for you? I heard they were a couple hundred a piece.. How do you guys afford all the different types? There seems to be wayyyy too many.
And if you have to alter a couple statements in a contract for a different deal, do I pay full price for them to write up another contract? Or is that when they add addendums and other stuff to the contract?
I know it's a stupid question, but I have no idea whatsoever on what goes in a contract.. or about contracts in general at all.