OfflineSo I have a question in reguards to earnest money. How much have you typically paid?? my realtor is telling me that the banks want at least 1% or at least going to counter my offer of earnest money. Is earnest money req'd? cuz 1% is a few grand i dont have on some of these properties.
2nd problem
So I found a market that has freefalled and homes are being listed 40-70% below 2008 assessed values. I am only trying to squeeze an extra 5% by offering 10 below list price. I'm no genius but the assessed value is substantially less then fmv and arv. Am I correct in this assumption? and then do i even mention what the list price of the home was before to the end buyer or just show him how much money I am making him and take a little off the top?
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I am wondering if I eligible for finder fee and connection seller and buyer if I have a real estate license?
thx for the feedback...ill consider that option
Assessed value may be high, low or on the money. Typically, they are NOT at FMV. You should do your own comps, especially with the market as it is now.