Investment Real Estate topics throughout California and sometimes further! Mario Pinedo has been a Realtor since 1991 in Silicon Valley and has sold throughout California and the West. His primary investment vehicle is multi-family rental properties. Mario focuses on major markets from San Diego, Orange County, Los Angeles, San Jose, San Francisco and northern California. He currently lives in Irvine, CA.
Saturday, May 5, 2007
Hard Money When Buying a Shopping Center
Remove some, but not all contingencies and pass through money to the seller? Why would someone do this? The answer is when the seller is on the line for an extended period of time with their property off the market. Conduit financing takes 90 or more days. Should a seller take their property off the market for that long with no compensation? What if the market sours? What if the opportunity that they want goes away? Therefore, it is reasonable to compensate the seller for this opportunity loss. And 1 or 2% of the purchase price may be reasonable.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment