All Forum Posts by: Lydia S.

@Deep Patel

Before deciding where to put signs, be sure to research local ordinances to avoid fines or signs being taken away by the city. Can they be on medians? Can they have balloons attached to them? Can they be on sidewalks

I zoom out on a map with the location of the open house and find all primary intersections that may need a sign

If roads are multilane, having a sign further back as well as at the intersection in each direction is helpful, as it gives time for people to change lanes if they’re interested.
Slower single lane roadways might only need one or two signs at the corners.

Whether there are ordinances or not, do not block sidewalks for pedestrians, cyclists, or people with disabilities.

When I put out signs, I start at the house and work outwards. That way, when I am on my way back to the property, I can see whether the signs are indeed visible to traffic.  No one wants to get lost trying to find the house.

Have a look at sound absorbing panels online and consider that option as well.

Musicians that I know use panels and you can barely hear them playing.

Hey Chris, a few thoughts here.

Considering that office is not attached to the house, I wouldn’t add any footage to the total home square footage; however, you could advertise that office space and amount of footage and amenities in your remarks.

If you're a Realtor or are using one for the sale, your local MLS may have fields dedicated to additional footage for other buildings on the property, such as ADU's.

The other point is that typically, perhaps depending upon location, a space needs to have heating to count in the square footage, which this office doesn’t have if I understand correctly.

Consider contacting an appraiser to inquire about how they would handle this space on an appraisal, or a Realtor.

@Alex Thomsen

I agree with Jason that it’s an excessive deposit and with his speculation as to why.  
Does the sales rep know you’re an investor and not an owner occupant?  Perhaps that’s another reason they want a large deposit.

Maybe consider obtaining your own lender for financing. And your Realtor would know more about what’s typical with new construction in your State, but I feel they should be fighting for your interests, and be the one having the conversation with the sales rep about a reasonable amount for the earnest money deposit, on your behalf.

Glad you haven’t signed anything yet and hope you manage to come to terms that work for you.

Keep us posted!

When you say that the seller is being pushy, does that mean you’re dealing directly with the builder’s sales representative?  What’s your contract say about earnest money and why didn’t you consider your own representation by a Realtor?

The contract should have outlined the amount of earnest money you deliver.

@Boris Shemigon

Why do you need to move out during the sale of your home?  

Save the money, clean it till it shines, maybe basic improvements like a few new light fixtures or at least matching/bright lightbulbs, maybe a few new faucets, some paint touch ups and sell.

If you’re hiring a Realtor®, they can tell you pricing in current condition versus pricing with a few minor changes.

@Travis Hardy
Curious to hear how the appraisal goes.  Hopefully without a hitch🤞

@Toby Fellows

You are correct, you need to ‘hang’ your license under a broker in order to practice real estate, and most brokerages require you to become a member of the National Association of Realtors as well.

While you are preparing and taking your courses, contact several brokers and interview them to find out who might be a good fit.
There are likely some that have a lot of investors.
Find out what they offer as far as education and support, what their fees/splits are and what their expectations might be.

Remember, you will need a certain amount of continuing education hours, and you will want a Brokerage that has the support you need to help you through your contracts and answer questions. If you’re lucky, you will find one that has a lot of Realtor/investors to learn from.

Ask around and good luck!

Welcome to Bigger Pockets, Christine!