All Forum Posts by: Account Closed

I would not trust their numbers. I do use the site in home searches, but I take what info they provide as a ball park figure. I would never bank on their numbers, but It gives me a general idea of an area and home. I always back it up with a CMA from my agent and get the exact info. Redfin, seems to me, to be a little more accurate compared to Zillow. The only thing with Redfin is that is only covers certain areas of the US.

I used these guys for my two rentals in Raleigh. Brady was my agent, she was awesome.

N.C. Has the due diligence fee in the purchase agreement contracts which can be set by the seller/agent. Usually its about $100, can be more though and it can also be waived by the seller too. My agent typically would typically set the fee at $100 on each property we sold. This last one was set at $250 and that was worked out with the buyers agent before hand. But a 10K due diligence fee, I couldn't even imagine losing that kind of money. 

Mine typically wants something up front to be able to purchase the supplies to start the project, which I do not have a problem with. On average it usually comes out to about 10% of the total project. After that its a pay as we go kind of thing with a chunk held at the end that will be due at completion of project after inspection of work and I give the thumbs up. Hes done 5 projects for me this way and he is okay with how we work it out.

I will say this, finding a good contractor that is dependable, honest, does solid work and does not need to be baby sat is hard to find. If you find one you better hold on to him.

The police do not get involved with civil matters, which this would fall under. 

Being from Jersey and growing up on the shore your location would be important as well. Do you want to be in the heart of the clubs and bars in Seaside or a little more north in the quiet part of Mantoloking or further south in LBI perhaps? And as @Mark Scarola stated a lot of areas are still rebuilding. Was home not to long ago to visit and there were still homes in shambles, true not as bad as the day after the storm, but some still linger. There are a lot of properties for sale that were damaged from Sandy that have been taken down to the studs. Ive seen some listings say the houses needed to be demolished and they were just selling the land only. Good luck. 

@Chris D. Might have to check that out. Also some Tax Assessors Offices have previous sales recorded for the neighborhood that a home is located in. Some do give out a wealth of info, some wont and just give you the basics.

@Tony Iaconelli No problem. I am hardly a seasoned investor, but if I can give a little help or info I will try my best. 

I did make the mistake being a new investor and working with a brand new realtor I put a bid on a property that was owner occupant only through Homepath with no intent on moving to NC. Big ooops there on our part, but hey I learned for the next time! We got the lecture from Homepath on that one, well I should say my agent did anyways. 

Good luck!

Not sure what kind of auction you are attending like a court house step one, estate or online, but maybe I can give a little help by what I have done.

  I have done foreclosure auctions through the county. On these the only way to find out what was owed, if anything was owed, was to do a title search to see if there were any liens on the property. If the title search came back clean then you knew at least there were no surprises from monies owed to others. Other than that you were bidding on a property that you could not enter or even be allowed on the grounds and taking a risk that there are no serious issues with the home itself. The courthouse does provide information on bidding procedure.

  If the property is in disrepair you can also check with the local inspectors/clerks office and see if the town/county have slapped the property with a "Lis Pendens" (spell check) these sometimes do not show up on a title search. I had this happen to me and it was a nightmare dealing with the city to get that corrected and off the property to where I just sold it to a contractor who could take care of it.

  I believe that "Final Judgement" is the money that is due to the lender. Maybe others on here can chime in and give you a little more guidance.

Good luck

I believe that you must reside in the property when it is purchased in the owner occupant period for at least 1 year. If you purchase the property when it is open to investors then you do not need to live in them and can rent them both out. I just purchased a Homepath property, but it was open to investors and I do not need to live in the home. Best thing to do is read the paper work from Homepath regarding this or touch base with your agent.