All Forum Posts by: Julien Jeannot

@Lisa R.

I'd say that depends on what the attorneys have drafted up. I'd direct that question to your attorney.

There is a lot of risk using earnest $ prior to the deal closing. If they buyers back out based on one of their contingencies, you'll have to pay it back. What contingencies are in the purchase and sale agreement?

The buyers must be getting a really sweet deal if they are willing to part with cash with no returns for 1+ year. 

Given this market, you can list a house based on comps, but its not an indication of where buyers will bid the properties of up. You are also losing a year's worth of appreciation by locking in a price today. 

It is a hot market with little inventory, if there is equity in the property and you are looking for liquidity to invest, is there an option to refinance or do a HELOC?

I'd reach out to a lender/broker that knows those type of programs.

I'd seek an insurance broker familiar with the area.

Insurance rates have gone up significantly recently.

@Erik Reis

I'd think 2 steps ahead. How much do you need for the property after that and back into how much you can put down today minus rehab cost.

Depends on what you are looking to do, but in general save as much as you can.

Duplex or triplexes all day to start.

Earlier the better.

I'd add: get to know your local laws.

It all depends on your strategy.

Low down if you need the cash now to reinvest.

High down if you need to lower your payment.

@James Balcomb

Kaitlyn Jackson

206.628.2766

https://www.williamskastner.com/attorneys/kaitlyn-r-jackson/