All Forum Posts by: Account Closed

Most people cannot sell their property on their own. But more power to him - if he was able to do it. I respect that. 

I went to Allied Real Estate School. It's all online and pretty straight forward. 

I wouldn't waste your time going to an actual classroom unless you need a more hands on approach to learning, and don't have the discipline to study via an online method. 

Most people that get their license don't do anything with it. You're better off attending real estate networking events in your local area. 

I would use an agent next time you decide to make a purchase. As a buyer it should be free. I realize this is an off market deal. I find it odd that your attorney did not spell these costs out in writing. That is what attorneys are supposed to do... put everything in writing so there is no grey area. 

You have your CD, so you see how much each line item costs... in the future keep this in mind and have each line item assigned and clearly written out. 

The CA sales contract has a line item for most closing costs and has an option to check whether the buyer or seller is paying for it. 

I use www.rebogateway.com for this information. It is about $40 a month or so for one county. 

I've used YellowLetters before and they are affordable. I use www.Corefact.com these days and they seem to be competitively priced. 

Do they need to be local? If not, I have one here in Sacramento that is really good. You two can speak on the phone and do everything online... His name is Stephen Brown at Newpoint Law Group.

Let him know I sent you his way. Email me for his contact information.

In the state of California buyers and sellers can use two separate title companies. I would assume it's the same in Illinois. This is negotiable.

Who pays what closing costs are agreed upon in the purchase agreement, and are spelled out clearly. 

If the agreement was the seller pays "all closing costs" then yes it seems weird you are paying them all now... did you review what is in the contract? What does it say? Your escrow officer is an impartial party to the transaction and always follows what's in the contract. 

In the state of CA it's customary to have the seller pay for Owner's Title Insurance, NHD, county tax, city transfer fee, and buyer/seller split escrow fees 50/50. Saying that though, all of these fees are negotiable and depending on how competitive the market is this can change drastically.

If you're in a competitive market, like Sacramento, you could potentially lose the deal if you ask her not to represent you.

I have seen a lot of unethical activity go on with agents. They receive multiple offers on properties and tend to accept the ones where they represent both the buyer and seller... they make 6% of the sales price versus 3%. It may seem unfair but it's reality. 

If you decline her representing you, you risk losing the deal... just FYI. 

@Michael Kim

Nice, thanks @Marc C. 

Nice! Congrats on the successful flip (to your client) and loan funding. I'll keep you in mind when hard money is needed.