Always, always, always check your Buyer’s estimated closing statement. Why? First, you have to understand what a Buyer’s estimated closing statement is. It’s a piece of paper that shows escrow’s calculation of how much money needs to come in from the buyer to get the deal closed. But wait, you ask, why do we need calculations?
Oh man, the brokers are at it again. Got a set-up a few days ago on a smaller, rent controlled apartment deal where the broker is pricing in 8% annual appreciation in order to estimate the profit a buyer can expect on the deal. To understand why this is so ridiculous, you need to understand a few
Today, one of the clients of our brokerage is closing on a really interesting fourplex deal. The minute I saw this one on the MLS, I liked it… it’s big, (mostly) non-rent controlled, in an interesting area, on a large lot (so plenty of parking and outdoor space), etc. The reason I’m writing about it
Just had an interesting experience at probate court. Jon and I had signed a non-contingent deal to purchase 229 N. Burlington St., which is a triplex south of the 101. It’s on a big lot that’s zoned for six units. We were intending to renovate the existing building and build two more units… the numbers would
I got a call about an interesting building in Highland Park a few weeks ago. Ordinarily, these are the types of calls I love… an interesting deal, a broker with whom I’ve done plenty of business, etc. But this one is almost definitely not happening, and here’s why: Because it’s a bankruptcy sale conducted under