>> 1st question- house is listed with a realtor, how do I go about showing the house to my buyers.
You should have in your contract that you get keys to property to show it to tenants/investors/inspectors once the property is vacant. This is best negotiated going in.
>>2nd question- should I get 5% down at p&s and the other 5% brought to closing
Get as much down as earnest money as possible!! What if the don’t have the money later?
>>3rd question- realtor’s sign in the front, will this scare my buyers
Possibly will blow your deal. I had a buyer call the listing agent, and get the sales price… (lower than my price to him… It was touch and go…)
I would tell sellers you need YOUR signs in the yard, and remove the agent’s. Again, best negotiated going in.
>>4th question- should I bring all the prospective buyers in at once or will the competition scare them.
All at once or at least several at a time. It saves you time, and generates competition. Plus you won’t be devastated if one buyer no-shows, you have others arriving too.
1st Flip Deal…Need Help/Advice…please! - Posted by Tiffany (MA)
Posted by Tiffany (MA) on April 20, 2001 at 08:36:01:
Here’s the deal:
4br/2ba house, I’m buying for 240k, house should appraise for 310k. I put an ad online that 1st appeared around 3pm yesterday and I have gotten 3 calls already. Here’s the ad:
***, Ma, 4br2ba 305k
10% down & It’s yours
No bank Qual, quick close
Great house, Great location
My plan is to create a note for 90% (274500). Qualify my buyer so that I can sell the note at closing for 85% of face value giving me $233325 + the 30,500 down payment. My seller gets his 240000 and I net @ $12000 after closing costs.
1st question- house is listed with a realtor, how do I go about showing the house to my buyers. It is empty. The realtor is supposed to let the home inspector in next weekend & the inspection should take 2.5 hrs, when finished I call the realtor to lock up. Should I show then? Is it unethical to show without the realtor knowing?
2nd question- should I get 5% down at p&s and the other 5% brought to closing
3rd question- realtor’s sign in the front, will this scare my buyers
4th question- should I bring all the prospective buyers in at once or will the competition scare them.
These are things I did not put together beforehand and now I’m scrambling since I need to return the calls of my prospective buyers.