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Jorge, you are asking very good questions. I recommend you speak with a CPA about this.

Jodi, I purchased my rental with a 1031 exchange so I have about $350,000 capitol gains waiting when I sell it. I want to sell it and be the bank so when and how would I have to pay that capitol gains if It's sold as an instalment sale? How is depreciation recapture taxed and payed back in this situation? Thanks in advance.

Click bait. The exact opposite of what the title is. Should be titled realtor talking points on why we should continue to be ove3r paid for typing information into a computer and having it do all the work.

That is very interesting. I would welcome the opportunity to talk to you about this. I’m currently out of town and back in Tuesday. If you want to talk please email me at Jodi@realestateexperts.net and we can set up a time.

I’m selling soon , none of the agents in my area are willing to discuss lowering the buyers fee now or in August. They try to pass the settlement off as “really nothing “ . Seems to me like it is time to reevaluate the real estate industry. Just a side note ; all the agents that we interviewed on site seemed quite wealthy. So , I’m for sharing the cost and not by some clever shell game that leaves the seller paying all the costs. Thanks. Moving to Chapel Hill area by the way…

I would think that buyers in many cases WON'T be choosing to be unrepresented, they will just have to be unrepresented because they don't have enough money to buy a house and pay an agent. Do you agree?

🏃 'Promo sm'

Of course it cost you money Their commission is split. The bigger home price the bigger commission!!!

Thanks. This is convenient.

I call it butler pantry

Thanks, Jodi, great information!!!

I have been following your RUclips channel for a long time. I have noticed that the number of subscribers and views of your channel is very low. Your RUclips channel has many problems and your channel videos need to be SEO.I have 4 years of experience in youtube channel and video seo if you want I can work for your youtube channel. I look forward to talking with you

how long is the trail? Looks great

"Promo SM"

Love the idea, having moved into a home with a very small kitchen for our large family. This may solve our problems without taking down walls. We cook , can, bake, and make soaps and this would accommodate us all working. We do not have an open concept home just a very small kitchen with very little counter space and no room for a massive island.

LOVE LOVE LOVE This!😍I entertain a lot and often cater and hire a wait staff when I host dinner parties. I wanted a butlers pantry that was big enough to hold two or three people(caterer and waiters) to prep plates, wash dishes, and maybe an ice machine, under cabinet food warming trays, Bain Marie Buffet food warmer, Standing Wine Cooler etc. Thank you so much for your video. Emailing my architect now! My next build will definitely have a Scullery. I Guess my idea would be more of a Staff's Scullery lol

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What the difference in scullery vs a Butlers pantry?

What you said was incorrect. PMI is for FHA LOANS only. MI is for Conventional Loans. 5 and 3% down payment comments leads me to believe you are talking about Conventional Loan products. FHA is 3.5%. Additional MI is shopped for with many providers. It is based on there Credit Score / LTV / and DTI. The UMIP (Up Front Mortgage Payment) is charged upfront and required on all FHA loans by the Federal Housing Administration. Lenders charge this fee and forward it to the FHA within 10 days of loan closing and disbursing funds. Conv Loan do not charge UMIP.

I recall when my parents were selling the house as part of the divorce settlement, this was back in 1986 if I remember correctly the appraisal/market value was 230K. However they ended up only getting around 173K, termite damage was discovered under the house where water damage occurred several yrs earlier rotting the sub in the bathroom. While the damaged sub floor had been removed and replaced 8 years earlier. The company who remolded the bathroom, (ding-heads) laid down a W/W shag carpet in the bathroom.

Howabout a Lock Box Access fee too, while their at it? EMD is more than enough.

So the due diligence and earnest money is deducted from the cash to close ?

click bait BS. Let's give the real reasons one doesnt' need a buyers agent. 1. you WILL SAVE MONEY if the seller can save on realator fees! Therefore, they are NOT free. It's like saying you get free shipping when you buy crap on amazon. you actually think amazon doesn't pay to get stuff shipped? they just factor that into the items price. 2. You can handle stress and make your own decisions with out handholding by a comissioned salesperson. 3. You know how to use google and can do your own research. Do you know how to knock on a neighbors door and ask them about the neighborhood? yeah that's about as hard as it gets. 4. You are independent and grown up enough to not need a salesperson taking your hard earned cash. 5. You are a fantastic negotiator and know how to research comps. there you go, straight facts, instead of a click bait misleading video title.

Awesome bit of information!

Thanks, Jodi. I just discovered 'scullery sinks' when searching for the best commercial prep stations with integrated sinks. I may put 2 into a small kitchen for juicing, blending and food prepping.

Thank you for posting this video and allowing me to have a conversation with you today, you helped to answer a few questions I had as a Seller & it helped me to leverage my position when I hadn't received the DD yet after 3 days.

Thanks for explaining that.

Excellent content and delivery! New subscriber.

Pretty soon someone will come along with novel idea and say, "Hey, instead of having two kitchens--one to hide the mess--let's make the kitchen a room of it's own." Because really, who wants to do hours of prep and clean-up in a narrow little corridor? Then they will introduce kitchens that are large and enclosed, with windows above the sinks. Thus will this trend also have come full circle. No matter how high-end the scullery is, most I've seen still appear claustrophobic. I never liked open concept in the first place. Houses need walls that afford each family member the freedom to make their own noise without being bothersome to everybody else.

Thank you. To be clear you do not have to take the liquid cash to purchase the second home, you can take out on loan and keep the cash as long as the new home is of equal or greater value?

Or if you’re selling the house within the year, you can get a 1 year no/no financing. Once you sell the house, pay off the whole thing at no interest.

Scullery: common in English manor homes was where all the non-cooking dirty work was done. Prepping poultry (as in defeathering), deboning game, skinning fish, etc. It's also where the pots, pans and cooking utensils were washed. They're not needed anymore in modern world because we have dishwashers and buy food that comes packaged and prepped, inspected, canned and bottled. An adjunct kitchen that is built today is the "production kitchen". This is for catering when you frequently have such large events at your estate that a regular kitchen is insufficient. Production kitchens are essentially restaurant kitchens in your house that sit idle when not entertaining.

Great footage👍liked & subscribed, thanks for sharing 😀

Hi Jodi!

What's crazy is that I am just finding out this week that this varies state to state. I have had two friends in two different states saying they had no clue what due diligence and earnest money is, LOL! I am thinking there is no way you didn't give the seller anything. They both said they did not and now I know why. Because I live in NC and our rules are different.

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Congrats, Jodi!

Wasilla

Exciting!

What a compelling and inviting vision! Very exciting to see such a project underway in North Carolina.

My purchase contract is $350,000 "as is" in NC. I was told that meant that the seller wouldn't have to do repairs if you found a bunch of stuff on the home inspection. The thing is they wanted a $5,000 due diligence fee instead of earnest money. The houses here go like hotcakes (Hendersonville, NC) and they already had 6 different buyers come to look at it in 2 days. Well the home inspector found a lot of stuff including a bulging foundation and cracks that were filled with window foam. He also found polybutylene pipes for the plumbing. The sellers said they wanted the "as is" because they know nothing about the home because it was their mother's house and she recently died and left it to them. On the contract though the box is checked, "seller has owned the home for over a year"....yet they know nothing about the house? My question is after I get the price quotes for everything that is wrong with the house can I tell the sellers that I want it for the appraised value (it's a modular home from 1988 but in a highly coveted area in my city) and the cost of foundation repairs? This will more than likely lower the price by close to $100,000. And if they say no and refuse to even negotiate will I lose my due diligence fee or get it back?

I was totally unaware that this is something to consider when buying a house 👀😳 Thanks Jodi

One thing that confuses me about backup offers is: if my buyer clientsput in a backup offer, can they still continue to look at other properties and put offers in on other properties? Or does sending a backup offer mean that they have to wait and see if the contract goes through on the house they put the backup offer in on?

If by any reason I am denied the loan and I didn't terminate during the due diligence period or after will I get my due diligence and earnest money back??

Some heavy breathing going up those stairs.

I’m a buyer in Charlotte area. It’s a highly competitive market where sellers are calling the shots. My last 10 offers ended up in the trash just because I’ve been checking due diligence even if I offer over asking price. I hope you could explain the strategy of a successful offer and how to balance between due diligence and the actual offer. I just feel the sellers are giving first preference to ‘as is’ offers.

Hello ❤

Very helpful!! What would you consider a "strong" backup offer? A certain percentage above asking price?

so would a seller be the person to pay a due dilliegence fee?

Yes a buyers agent does cost you money. You don't think the cost of using realtors is factored into the price of the house? Hey let me know what house you are looking for you can pay me 10 grand to search on zillow now adays and send you home prospects.