How does the agent commision work on a REO property that is to say for Dutch auction?
In CA, how does the % work on a REO property?Thanks in advace
Answers: The commission is remunerated by the seller and it depends on what contract the salesperson has beside the agent or agency. It will be based on the purchase price of the property.
You shouldn't own to worry just about this since your the buyer. The fees you will be responsible for are closing costs and title fees etc.
Good Luck
An Agent with an REO address list will get 3% from the Bank that give him the listing, later they usually have to take-home pay back 1% to the company that give it to him, total 2%
What you mean by free hold property? What is the difference between freehold property and leasehold property?
Answers: Free Hold means you actually have title in your name. Lease means only lease for a period of time !
If you agreed to spend one night with me (a) no money , it is freehold.
If you asked money to lay with me it is leasehold
Howz this darling..
How do you manufacture money contained by authentic Estate?
I want to make money contained by real estate and dont know how to can someone oblige meAnswers: You don't right now.the souk is horrible!
you buy some piece of property that you believe is a good property within a desirable area
you win some financing and either live near OR rent it out OR improve the property
next after some amount of time (this could literally be minutes or years or anything between depending on the circumstances) you sell the property and you run the mney which is your profit and
reinvest it by buying more real estate
after repeat
because you put $$$ down for down payment but consequently finance the rest of the purchase price, you can create a lot of $$$ if you purchase astutely (or luckily) for example say you buy something worth $100,000 but with the sole purpose put $5000 down, if the property goes up 10% that is to say 10,000 which is actually 200% of your investment
Become a loan officer or Real Estate Agent or both (if state allowed). I am taking loan officer training in a minute because real estate is a paddock I love. You can also become an investor but, I would advise taking training within one or both occupations mentioned above experience of your state laws can be an asset. Even contained by the existing voilatile market I know loan officer that are still making money and lots of it.
Good luck to you
There is a tremendous amount of opportunity in the open market right this very second and will be for the subsequent two to three years until the real estate flea market corrects itself.
There are a ton of foreclosures for sale sadly because a lot of culture lost their shirts with these Adjustable Arm Rates. But for the investor it is a buyers marketplace contrary to popular believe. The best way to run advantage of this flea market is to buy a couple of these foreclosures and fix them up and rent them for two or three years and when the market corects itself again it will become a seller market and you can label some nice returns on your investmnets.
Here are two of the best resources to find foreclosures in your nouns. ( www.fanniemae.com ) and ( www.ocwen.com ). Here you will find the biggest amount of properties in the open market.
The other places are your local foreclosure real estate agents. Call the solid estate offices and ask them who handle the foreclosures in their organization.
You can buy properties from 20 to 50% off bazaar values because the banks own to unload these properties because they will get shut down by the command because they are not in the business to hold properties they're surrounded by the business of loaning money. This is federal law.
And don't be affraid to hold out 20% or less of marketplace value for a property because remember you will enjoy to do some fixing up in most cases. The best means of access to get these discounts is to pilfer a detail list of adjectives of the items that need to be replaced and fixed and supply it to the agent doing the sale and detail him to put in beside the offer. Don't listen to the agent recounting you the bank will not adopt the offer because he will be surprised as resourcefully. Enjoy the ride !
Another resource is that has properties that are fixer uppers is ( www.rehablist.com ).
But spawn sure you due your due dilligence and market analysis on adjectives your properties. Like finding out what they will be worth after you fix them up before you even purchase. A tangible estate agent can help win the comparable prices for these properties.
What ever you do do not buy a pretty looking property in a discouraging area, it's not other ! Buy an ugly property surrounded by a nice area, get hold of the point. Always get a obedient inspection and when shopping for an inspector ask if they would give you a detail catalogue of everything that is wrong and how much it would cost to replace. I found the best inspectors are former contractors or former builders they know their stuff.
If you stipulation somebody to fund your investments just travel to this link :
http://www.lendinguniverse.com/af/myfund...
Here you will find everything you stipulation from A - Z of your investment to include contractors, appraisers, inspectors and a variety of fundings available to investors resembling yourself.
I hope this sheds some light on genuine estate investing. There is a lot more to cover on this topic but I hope this help.
This Is A Buyers Market !
Good Luck
Professional Real Estate Investor
I recently get licensed. I am a part time Realtor next to a decent paying sunshine job. I enjoy been licensed for roughly speaking a month or two and have merely got my first register. I also have two appts tomorrow, beside somebody I have met near before and desires to meet again beside my broker and myself. The other is somebody whom I have have a few telephone and wishes to meet next to me. Being part time can be a draw put money on, I work for a good organization and am pre-pared to pay other agents as referral for any help needed to provide my clients beside the service they deserve.
I have no expectation of making much money for the subsequent year or two. I am aggressive and have sale experience. My plan is just to market/advertise myself heavily for the subsequent 2 years. I live in a small but with alacrity growing small community were word of mouth travels with alacrity but trust is hard to earn.
I also hold a couple rental properties and about 20 acres I can build on. I share indistinguishable philosophy as yyyyy above has. At this point I could probably product about 20%-30% on building. New homes still can move rapidly out here but I am not prepared to take on that risk at this point. Again my nouns is rural and it doesn't take much to "flood" the souk.
Basically you have to be an enterpurneur, not stipulation a pay cheek for a while, upright credit, persistance, talent and guts.
The only opening to make money surrounded by this market is to buy and put on the market for other people.
So roughly by being a solid estate agent and that’s tough right now too, plus everyone would hatred you. I hear that real estate agents are in a minute ranked below used vehicle salesman. ouch!