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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Elroy Jetson who wrote (18809)	3/22/2004 4:38:37 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

Yeah, I worked in real estate brokerage. Although the facts fatty gave are not complete about the previous transaction and proposed new sale, this certainly sounds like a classic for-sale-by-owner offering. If it's not and is being handled by a full-service brokerage firm, then surely there wouldn't be much profit, typically. However, how do we know the owner didn't get some cheap seller-held financing from the previous owner? And how do we know what problems and risk this seller might have in NOT selling? This is the type of stuff fatty needs to find out if he wants to actually "exploit" the situation, no? Fatty probably also doesn't want to find himself trying to buy a house that won't appraise. Just some thoughts.....

To: Elroy Jetson who wrote (18809)	3/22/2004 4:52:26 PM
From: Tradelite	Respond to of 306849

After working in real estate brokerage, I have to admit I don't get your figures, Elroy. Where did the six months of property tax and mortgage payments come from if the house just went to closing two weeks ago and is about to be sold? How do you know how much commission is involved? How do you know whether there were or will be any mortgage closing costs at all?