All Forum Posts by: Karen A.
Karen A. has started 12 posts and replied 58 times.
Post: My intro, Debbie from Cleve/Akron Ohio
- Houston, TX
- Posts 60
- Votes 9
Originally posted by @Account Closed:
Hi Debbie. Welcome to BP and you're not "late"... you're right on time! ????
All the best.
Account Closed I love your comment. I think that it's so encouraging!
Post: My intro, Debbie from Cleve/Akron Ohio
- Houston, TX
- Posts 60
- Votes 9
@Ben Leybovich I would love to hear about Lima. How close is it to Cleveland? (I know that I could do a little research but I thought that I would ask you for a little firsthand insight since you're here.) Thanks!
Post: My intro, Debbie from Cleve/Akron Ohio
- Houston, TX
- Posts 60
- Votes 9
@Debbie Plesz Welcome! I admire the fact that you are taking action. I look forward to hearing more about your progress as you move forward. I say more because by joining BP and reaching out to the owner of the property that you referenced, you have already taken action. Please have an incredible day and enjoy the journey!
Originally posted by @Brian Gibbons:
For new people that want to act as a principal without a license a letter of intent makes a lot more sense than drafting an agreement to have an agent present.
The letter of intent you basically gives the seller a cash price and the terms price and it's valid until a certain date.
Use a lawyer and have the agent involved to get the commission
I would deliver the letter of intent to the seller away from the agent first
As long as the agent is getting his commission and the seller is interested in your letter of intent, the agent has no choice but to look into the situation
I find agents don't present seller financing very well because you're not trained in how to do it unless they're 65 years young
I do a lot of seller financing in on my bigger pockets blog I talk a lot about giving the seller some educational articles from realtor.com, New York Times, Wall Street Journal, money magazine.
Don't depend on listing agent to educate the seller about some financing, ever
Brian, I am interested in accessing the blog and the information that you referenced here. I have gone to the member blogs section but I didn't see how to search for your blog. I may be missing something. Would you please share how I can locate your blog here on BP. Thank you.
@Account Closed Thanks Sue.
What an experience on that first property!
I am interested in knowing more about how condo financing can make it difficult to sell a condo? Do you mind sharing more about this situation?
You state that you sold the property a few years later. Did you include a clause, in your contract, that allowed for an early pay off, free of any penalties?
@Brian Gibbons Thank you for sharing your knowledge and expertise.
Would you recommend including anything else in the letter of intent besides the price and the date on which the offer will expire?
You mentioned a cash price. Do you always include a cash price when seeking seller financing?
You mentioned using a lawyer and having the agent receiving a commission. What role would the attorney play in the presentation of a letter of intent? Is it to draft the letter of intent?
You mentioned articles, on your blog, that can serve to educate sellers. Are there any particular articles that you would recommend? Is there a way to search for these articles?
Brian, thank you in advance for your assistance.
@Martin Scherer Thanks Martin for sharing your insights.
How detailed should an offer to purchase a property be? What details would you recommend including in the written offer?
I notice that you share information regarding your “partnerships and returns to investors”. Would you please elaborate on the benefit of sharing this information with potential sellers?
Again, thank you Martin.
@Martin Scherer It’s great to have input from a current agent. Do you frequently receive written offers from real estate investors or do you find that many investors shy away from making such offers?
@Larry Turowski Thanks for your response and for sharing your insight regarding price and terms.
@John Thedford Thank you for your input.