Search found 940 matches

by jfn111
Sat Oct 20, 2018 6:06 pm
Forum: Personal Finance (Not Investing)
Topic: Waiving contingencies for co-op purchase?
Replies: 16
Views: 892

Re: Waiving contingencies for co-op purchase?

Thanks for all the answers so far. My broker is trying to get my offer even considered (since no deal and she doesn’t get commission). To make it more appealing than the cash offer, I made my offer higher than what we think the cash offer was by about $150K, but they still prefer cash. I’m wonderin...
by jfn111
Wed Oct 17, 2018 6:19 pm
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1736

Re: Buyers commission on a condo purchase

J295 wrote:
Wed Oct 17, 2018 6:07 pm
I don’t think you can really look at a fee like this in a vacuum. So much depends upon the pertinent facts.
+1
by jfn111
Wed Oct 17, 2018 5:04 pm
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1736

Re: Buyers commission on a condo purchase

The $400 is probably the Broker Admin fee. This a fee that goes to the Brokerage to cover admin support plus just general office expenses . (Ours is $499). I will waive the fee for the client, and pay it myself, for larger sales. Like staples, paper clips and coffee creamer? Sounds like the doc fee...
by jfn111
Wed Oct 17, 2018 12:22 pm
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1736

Re: Buyers commission on a condo purchase

The $400 is probably the Broker Admin fee. This a fee that goes to the Brokerage to cover admin support plus just general office expenses. (Ours is $499). I will waive the fee for the client, and pay it myself, for larger sales. So, what does the split that the broker gets on the commission cover? ...
by jfn111
Wed Oct 17, 2018 12:21 pm
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1736

Re: Buyers commission on a condo purchase

The $400 is probably the Broker Admin fee. This a fee that goes to the Brokerage to cover admin support plus just general office expenses . (Ours is $499). I will waive the fee for the client, and pay it myself, for larger sales. Like staples, paper clips and coffee creamer? Sounds like the doc fee...
by jfn111
Wed Oct 17, 2018 10:05 am
Forum: Personal Consumer Issues
Topic: Buyers commission on a condo purchase
Replies: 29
Views: 1736

Re: Buyers commission on a condo purchase

The $400 is probably the Broker Admin fee. This a fee that goes to the Brokerage to cover admin support plus just general office expenses. (Ours is $499). I will waive the fee for the client, and pay it myself, for larger sales.
by jfn111
Tue Oct 16, 2018 2:37 pm
Forum: Investing - Help with Personal Investments
Topic: advice on first home
Replies: 28
Views: 1618

Re: advice on first home

I agree that maybe now isn't the right time for you to buy a house. I disagree about blaming the agent. If someone hires me to help them buy a house, guess what, I help them buy a house. I'm not their banker, financial planner or father. :oops:
by jfn111
Fri Oct 12, 2018 6:22 am
Forum: Personal Consumer Issues
Topic: What to do with Bose cube speakers left in rec room
Replies: 17
Views: 1814

Re: What to do with Bose cube speakers left in rec room

Interesting - the forum seems mixed. Thinking I'll try plugging them into my receiver and see what happens. Don't really care if I blow them out. But guessing I'll end up putting in my old speakers. I've read there is a big gap in then 150-280 hz range. I'm by no means an audiophile but do apprecia...
by jfn111
Fri Oct 12, 2018 6:07 am
Forum: Personal Finance (Not Investing)
Topic: Home Purchase - Sellers Request Help with Repairs
Replies: 69
Views: 3053

Re: Home Purchase - Sellers Request Help with Repairs

Based on a lot of the responses I don't know how half these folks ever found a house that satisfied them. :shock: The bottom line, once they signed the agreement closing the Inspection Contingency you are under no obligation to contribute to the new system. But... to ensure a quality job, if this is...
by jfn111
Thu Oct 11, 2018 2:29 pm
Forum: Personal Consumer Issues
Topic: Considering new Honda Pilot, other suggestions?
Replies: 35
Views: 1895

Re: Considering new Honda Pilot, other suggestions?

I have a Honda CRV for my work car and we were looking at the Pilot to replace our Chevrolet Traverse. After looking at both we bought a new Traverse. Larger inside hauling capacity and all the saftey features you want in a new vehicle.
by jfn111
Thu Oct 11, 2018 8:52 am
Forum: Personal Consumer Issues
Topic: What to do with Bose cube speakers left in rec room
Replies: 17
Views: 1814

Re: What to do with Bose cube speakers left in rec room

I use the Bose cubes in my family room and the wife loves them.
by jfn111
Sun Oct 07, 2018 1:18 pm
Forum: Personal Consumer Issues
Topic: Radon
Replies: 10
Views: 1240

Re: Radon

We encourage all our Buyer's to have the Radon test done. There is no such thing as zero Radon, in MN, so we use the 4.0 as the benchmark for negotiating a mitigation system. Whether you should have one at 3.8, who knows, but I won't let one of my Seller's pay for one under 4.0. YMMV
by jfn111
Sat Oct 06, 2018 9:27 am
Forum: Personal Finance (Not Investing)
Topic: Concerns of buying a home...what would you do?
Replies: 23
Views: 2087

Re: Concerns of buying a home...what would you do?

It's one of those damned if you do and damned if you don't scenarios. My partner and I have watched the housing prices go up in our market and we've been anticipating a correction ourselves. The problem is does it come next year or 5 years from now? If Orlando is where you want to live for the long ...
by jfn111
Thu Oct 04, 2018 12:17 pm
Forum: Personal Consumer Issues
Topic: Accepting a Contingency Offer
Replies: 24
Views: 1451

Re: Accepting a Contingency Offer

kelvan80 wrote:
Wed Oct 03, 2018 4:40 pm
Can't the buyers agent see what the contingency is on the MLS listing?
Yes, we can see the contingencies in the MLS feed.
by jfn111
Thu Oct 04, 2018 8:18 am
Forum: Personal Consumer Issues
Topic: Accepting a Contingency Offer
Replies: 24
Views: 1451

Re: Accepting a Contingency Offer

That type of offer is quite common. We don't advise our seller's to accept contingency offers based on the sale of the buyer's house but we do advise them to accept offers based on "the successful closing" of the buyer's house. We ask to see the contract. We want to make sure the Inspection period i...
by jfn111
Fri Sep 28, 2018 12:32 pm
Forum: Personal Consumer Issues
Topic: cleaning lady stealing
Replies: 49
Views: 7424

Re: cleaning lady stealing

I have friends who will go through the medicine cabinet of any house they happen to be in for any reason. Seems it's just second nature for them. If you have good stuff, you have to hide it or keep it locked up, otherwise it's considered up for grabs just like the cheese plate on the kitchen counte...
by jfn111
Wed Sep 26, 2018 6:16 am
Forum: Personal Consumer Issues
Topic: First time home buyer and Rookie investor looking for advice on home buying process [Updated]
Replies: 20
Views: 1238

Re: First time home buyer and Rookie investor looking for advice on home buying process

Nothing wrong with trying to negotiate the $6,000. Once your that far along in the process most home owners don't want to start over and would be willing to at least split it. YMMV
by jfn111
Tue Sep 25, 2018 10:52 am
Forum: Personal Finance (Not Investing)
Topic: Offer 3.5% to entice buyers agent
Replies: 12
Views: 1486

Re: Offer 3.5% to entice buyers agent

3% would be fine. The average here in MN is 2.7% to the Buyers Agent. And yes, it is more work, and a pain the the A#@ dealing with FSBO's. :shock:
by jfn111
Tue Sep 18, 2018 5:00 pm
Forum: Personal Consumer Issues
Topic: Dental work and hypertension issue
Replies: 42
Views: 3502

Re: Dental work and hypertension issue

I'd be screwed going to that clinic. :shock:
by jfn111
Tue Sep 18, 2018 8:03 am
Forum: Personal Finance (Not Investing)
Topic: Bank of America credit card “feature” (be careful with autopay)
Replies: 45
Views: 2736

Re: Bank of America credit card “feature” (be careful with autopay)

I also have Auto-pay setup for the minimum balance. We generally pay our credit cards weekly but if were traveling it's nice to have a backup in place.
by jfn111
Thu Sep 13, 2018 1:52 pm
Forum: Personal Consumer Issues
Topic: Going to the Everglade. A few questions please.
Replies: 21
Views: 1239

Re: Going to the Everglade. A few questions please.

I've driven to Key West, from Naples, a couple of times in the last few years. Hwy 41 isn't a toll road and Hwy 1 down to the keys isn't a toll road. (Plan for a long slow drive).
by jfn111
Mon Aug 27, 2018 3:44 pm
Forum: Personal Consumer Issues
Topic: Real Estate sale question. Reasonable offer expiration time period?
Replies: 15
Views: 665

Re: Real Estate sale question. Reasonable offer expiration time period?

If I make an offer, for a client, and I don't have an answer back within 24 hours I assume they're fishing for a higher offer and we move on to look at other houses. (Unless the listing specifies that all offers will be looked at on X date). It's also in the sellers best interest to tell a potential...
by jfn111
Mon Aug 20, 2018 11:50 am
Forum: Personal Consumer Issues
Topic: My son was scammed on Craigslist- how to get money back
Replies: 46
Views: 7647

Re: My son was scammed on Craigslist- how to get money back

Look on the bright side, he could have wired $400k https://www.nbcbayarea.com/news/local/Experts-Virtually-All-CA-Real-Estate-Transactions-Targeted-By-Hackers-487165181.html Ten years of sacrifice and dreams of home ownership gone in a flash. That is quite a punch to the gut. We make all of our cli...
by jfn111
Sun Aug 19, 2018 12:44 pm
Forum: Personal Consumer Issues
Topic: My son was scammed on Craigslist- how to get money back
Replies: 46
Views: 7647

Re: My son was scammed on Craigslist- how to get money back

Look on the bright side, he could have wired $400k https://www.nbcbayarea.com/news/local/Experts-Virtually-All-CA-Real-Estate-Transactions-Targeted-By-Hackers-487165181.html Ten years of sacrifice and dreams of home ownership gone in a flash. That is quite a punch to the gut. We make all of our cli...
by jfn111
Wed Jul 18, 2018 8:04 am
Forum: Personal Finance (Not Investing)
Topic: Selling mom's house
Replies: 50
Views: 4247

Re: Selling mom's house

I don't want to say never but.. she'll never get a loan on a house that can't be insured unless she takes out a rehab loan. Good luck with that because she will now have to qualify for a higher loan amount to cover the repairs. If you stay involved it sounds like it will turn into a money pit for al...
by jfn111
Wed Jul 11, 2018 7:31 am
Forum: Investing - Help with Personal Investments
Topic: What's up with Wells Fargo
Replies: 27
Views: 3116

Re: What's up with Wells Fargo

It all seems kind of crazy. My son has a WF credit card, checking and savings accounts with direct deposit from his work and 2 C/D's but they think his Brokerage account is abandoned. WTH? :oops:
by jfn111
Tue Jul 10, 2018 12:01 pm
Forum: Investing - Help with Personal Investments
Topic: What's up with Wells Fargo
Replies: 27
Views: 3116

Re: What's up with Wells Fargo

Several years ago I helped my son setup a Wells Account to put some excess cash in. My son has some disabilities so I help him with his accounts. We got a letter yesterday requiring us to verify the account or it will be considered abandoned. :shock: The funny thing is we log into the account month...
by jfn111
Tue Jul 10, 2018 7:28 am
Forum: Investing - Help with Personal Investments
Topic: What's up with Wells Fargo
Replies: 27
Views: 3116

What's up with Wells Fargo

Several years ago I helped my son setup a Wells Account to put some excess cash in. My son has some disabilities so I help him with his accounts. We got a letter yesterday requiring us to verify the account or it will be considered abandoned. :shock: The funny thing is we log into the account monthl...
by jfn111
Sat Jun 30, 2018 8:42 pm
Forum: Investing - Theory, News & General
Topic: Do Advisers Add $$$ Value?
Replies: 73
Views: 6378

Re: Do Advisers Add $$$ Value?

Are you speaking of the general population as DIY investor or Boglehead regular posters? I've got relatives that wouldn't know the difference between a 401k vs IRA or what an index fund is. Where CDs and savings accounts is where their extra money goes. For them if they had a good advisor who taugh...
by jfn111
Fri Jun 29, 2018 11:49 am
Forum: Local Chapters and Bogleheads Community
Topic: Post your Financial Milestone Announcements Here
Replies: 511
Views: 56391

Re: Pulled the trigger and paid off the house today

Congratulations! It's a good feeling to be free of home loan debt. :sharebeer
by jfn111
Mon Jun 25, 2018 2:33 pm
Forum: Personal Finance (Not Investing)
Topic: Mortgage pre-approval questions
Replies: 12
Views: 1070

Re: Mortgage pre-approval questions

If your interested in an on-line lender we have had good luck with Quicken Loans. They have been very thorough and we haven't had a deal fall apart, yet, with them. As far as preapproval letters I like to have my buyers get them without a purchase price. I'll usually call the loan officer myself and...
by jfn111
Mon Jun 25, 2018 2:25 pm
Forum: Personal Finance (Not Investing)
Topic: Sudden appearance of multiple buyers real or negotiation tactic?
Replies: 61
Views: 4345

Re: Sudden appearance of multiple buyers real or negotiation tactic?

ResearchMed wrote:
Mon Jun 25, 2018 2:23 pm
Have you considered something like "$X amount over the next highest offer, not to exceed $Y"?
Also to be done with verification if you "win".

RM
Using an escalation clause can be a good strategy. I use these quite often. :beer
by jfn111
Mon Jun 25, 2018 2:14 pm
Forum: Personal Finance (Not Investing)
Topic: Sudden appearance of multiple buyers real or negotiation tactic?
Replies: 61
Views: 4345

Re: Sudden appearance of multiple buyers real or negotiation tactic?

The normal sequence we do- House is listed for $X When an offer comes in we contact every agent that showed the house and let them know we have an offer. If we get a second offer we call best and highest, usually for the next day at 6:00. (We don't want to prolong the process and lose the original ...
by jfn111
Mon Jun 25, 2018 8:01 am
Forum: Personal Finance (Not Investing)
Topic: Sudden appearance of multiple buyers real or negotiation tactic?
Replies: 61
Views: 4345

Re: Sudden appearance of multiple buyers real or negotiation tactic?

The normal sequence we do- House is listed for $X When an offer comes in we contact every agent that showed the house and let them know we have an offer. If we get a second offer we call best and highest, usually for the next day at 6:00. (We don't want to prolong the process and lose the original b...
by jfn111
Thu Jun 14, 2018 8:35 am
Forum: Personal Consumer Issues
Topic: Home Sellers - do you read Buyer inspection reports?
Replies: 25
Views: 2430

Re: Home Sellers - do you read Buyer inspection reports?

I tell my sellers that neither one of us wants to see the report. That said, the buyer will want to negotiate repairs on any serious items and then we are still obligated to disclose, even if the deal falls apart. One of the most common ones is Radon. The Buyer will have the house tested and if the ...
by jfn111
Sat Jun 02, 2018 8:33 am
Forum: Personal Consumer Issues
Topic: Thoughts on Buying a "Flipped" House?
Replies: 27
Views: 3378

Re: Thoughts on Buying a "Flipped" House?

I work with a number of rehabbers and most of them do a good job. The reason they can "buy cheap" is they pay cash. Most people can't write a check for $500,000 for a fixer upper.
A good inspection is a must.
by jfn111
Wed May 16, 2018 8:23 am
Forum: Personal Finance (Not Investing)
Topic: Selling land FSBO help please
Replies: 27
Views: 1596

Re: Selling land FSBO help please

legal questions...pay an expert. Like a lawyer. A real estate agent shouldn't be offering a legal opinion. It's a GED and a 40 hour class. At some point technology will bust that racket. That is not at all what I said. Here is what I said: In addition, a good realtor will have resources related to ...
by jfn111
Fri May 11, 2018 8:14 pm
Forum: Personal Finance (Not Investing)
Topic: ques
Replies: 47
Views: 4794

Re: Should I pay cash for a house?

Dude. Awesome. Great work. I would pay cash in a heartbeat. I always get seller to pay closing costs , so find a realtor that knows what they are doing with cash offers and you may be able to extract more than just 5k. 30 and a paid for house, strong emergency fund, and dumping cash into retirement...
by jfn111
Fri May 11, 2018 4:24 pm
Forum: Personal Finance (Not Investing)
Topic: ques
Replies: 47
Views: 4794

Re: Should I pay cash for a house?

Dude. Awesome. Great work. I would pay cash in a heartbeat. I always get seller to pay closing costs , so find a realtor that knows what they are doing with cash offers and you may be able to extract more than just 5k. 30 and a paid for house, strong emergency fund, and dumping cash into retirement...
by jfn111
Fri May 11, 2018 5:53 am
Forum: Personal Finance (Not Investing)
Topic: ques
Replies: 47
Views: 4794

Re: Should I pay cash for a house?

Dude. Awesome. Great work. I would pay cash in a heartbeat. I always get seller to pay closing costs , so find a realtor that knows what they are doing with cash offers and you may be able to extract more than just 5k. 30 and a paid for house, strong emergency fund, and dumping cash into retirement...
by jfn111
Thu May 03, 2018 3:53 pm
Forum: Personal Consumer Issues
Topic: 1st Time Home Purchase Experience
Replies: 12
Views: 2053

Re: 1st Time Home Purchase Experience

Wow, great job! :beer
by jfn111
Thu May 03, 2018 7:18 am
Forum: Personal Consumer Issues
Topic: One Bathroom in Home Change Bathtub to Only Shower Hurt Resale?.
Replies: 32
Views: 2312

Re: One Bathroom in Home Change Bathtub to Only Shower Hurt Resale?.

In 20 years the kids can sell the house and the new buyer can put a tub back in if they want one. With that long a time horizon I would make the room the way I want it. PS- yes it will hurt resale value to not have one full bath in the house unless your in a crazy housing market where a tent sells f...
by jfn111
Thu May 03, 2018 7:08 am
Forum: Personal Finance (Not Investing)
Topic: Real Estate Commissions - How Negotiable?
Replies: 31
Views: 2295

Re: Real Estate Commissions - How Negotiable?

Everything is negotiable. Here in MN our Brokerage requires that we offer 2.7% to the Buyers Rep. At 4.7% the listing agent would get 2% for their side. In a strong market, where you don't have to spend thousands on advertising, most agents would find that acceptable. In a market where the listing a...
by jfn111
Sun Apr 29, 2018 8:50 pm
Forum: Personal Finance (Not Investing)
Topic: Services that offer to buy your house?
Replies: 22
Views: 2694

Re: Services that offer to buy your house?

I would consider going this route with my house, because it so badly needs updating and I don't want to do the work. Even a house that in bad need of updating has a fair market value. That will be lower than a comparable house in good condition, but it's still way higher than what these guys will o...
by jfn111
Thu Apr 26, 2018 7:34 pm
Forum: Personal Finance (Not Investing)
Topic: Who benefits from "best and final offer" on condo?
Replies: 107
Views: 7111

Re: Who benefits from "best and final offer" on condo?

I managed to determine the cause of our loss. The winning offer provided $200,000 in earnest money. If that isn't insane, I'm not sure what is. The buyer would lose all of that if they walked away at any point. I bet the seller is secretly hoping they walk away. That way they get $200k and can stil...
by jfn111
Thu Apr 26, 2018 7:00 am
Forum: Personal Finance (Not Investing)
Topic: Who benefits from "best and final offer" on condo?
Replies: 107
Views: 7111

Re: Who benefits from "best and final offer" on condo?

Our local market midwest market is popping right now. Small ranch, middle class suburb in the midwest was listed for $234,900. It was not going to appraise for more than $210,000. The day after listing, the sellers requested highest and best by 8:00p.m and there were limited time slots remaining to...
by jfn111
Thu Apr 26, 2018 6:52 am
Forum: Personal Finance (Not Investing)
Topic: Who benefits from "best and final offer" on condo?
Replies: 107
Views: 7111

Re: Who benefits from "best and final offer" on condo?

With these escalator clause bids, I assume it's illegal for the seller to have a friend submit a bid just below the maximum in the escalator? It's not a matter of Illegal but when I'm representing the buyer we put a stipulation in that we need to see the offer we were bidding against. The can redac...
by jfn111
Wed Apr 25, 2018 9:03 pm
Forum: Personal Finance (Not Investing)
Topic: Who benefits from "best and final offer" on condo?
Replies: 107
Views: 7111

Re: Who benefits from "best and final offer" on condo?

With these escalator clause bids, I assume it's illegal for the seller to have a friend submit a bid just below the maximum in the escalator? It's not a matter of Illegal but when I'm representing the buyer we put a stipulation in that we need to see the offer we were bidding against. The can redac...
by jfn111
Wed Apr 25, 2018 6:39 am
Forum: Personal Finance (Not Investing)
Topic: Who benefits from "best and final offer" on condo?
Replies: 107
Views: 7111

Re: Who benefits from "best and final offer" on condo?

You also don't necessarily want to piss off your buyers and lose them by getting in endless rounds of bidding. One thing you could have done in your offer is say offer is $5k over next highest offer not to exceed $1.35M. And that you have to be shown the valid other offer (id/agency can be hidden)....