All Forum Posts by: Lisette S.

The only reason I see for going with a listing agent for dual representation is that you get the inside scoop or hints for placing a winning offer in a hot market. But make sure you know the process and have all your contingencies in place.

Yoni Ramras - noticed you said you submit a pre-approval even though you pay cash- why not just proof of funds? This is key to your submission cash on hand is different from a pre- approval from a lender- and if there are many offers your agent should be making your offer clear as day. Seeing my partner submit offers for clients regularly in a hot market that we are- my partner who is a realtor- makes his offers very clean and thorough in writing. Many of the selling agents tell him they choose his offers bc the write up is clean and thorough. Your agent is key- and definitely should be following up with reasons as to why it wasn't accepted- after hearing 15 offers all cash And over list with your limited contingencies- something is not right. Trust me after seeing some of the trash on paper we get for homes as a listing agent in a hot market- you quickly filter through the ones where you know the agent doesn't know what they are doing- going into escrow with this type of agent is also a headache and realtors try to avoid. Also - going to the listing agent directly will help just make sure you don't give up any of your protections and are fully aware that an agent acting as dual agent will not always have your best interest in mind - it's a tough line to play. My partner hates representing both bc of this dynamic in the process, but when he does - does it very carefully.

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What a learning experience! As I got closer to tying myself in more deeply with this deal I realized that this was not as good of a deal as I thought.  You were right about the rehab @Mike D'Arrigo- at the purchase price I had it was too much- rehab was much more- Thanks to those on here for giving me some guidance and contacts along the way to checking the place out and giving me an honest assessment.  My initial assessment was optimistic to say the least. However, I can say that I did learn a lot through the process, which I think will help as I continue to move forward.   All I can say, just look at the numbers don't get tied or try to make the numbers work.  The only way this would have worked for me is to make the purchase price a lot lower, to make that equity work.  

Sorry about that

Tmg

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I just received an email from this Ludwig- it read scam from the get go.  I am assuming it is- if not let us know. 

Thanks, 

Good tips on the appeal of taxes..

Right, which is what is bugging me- this is a reputable agency (at least on BP)- I think it's because I didn't ask the thorough enough and right questions to begin with, or I hate to think otherwise. 

But moving on from this, I am getting a contractor bid to make sure the 30K will be cover what needs to make it 150K. - I want to protect my earnest money and make sure all is right here on. Not sure what else I will encounter.