Profile picture for Jeremy Olsher

Jeremy Olsher's Advice

Contributions are sorted newest to oldest.

  • 50 Contributions
  • 2 Best Answers
  • 5 Helpful

Jeremy Olsher wrote:

Escrow Deposit Money Before signing the Lease?

Answer
This is a normal procedure.  If you are serious about renting this property, put the one month in an escrow account and wait to get an owner response from your offer on the contract to lease.  In the contract to lease there is a section that states your deposit.  Put a time frame on the contract to lease for when the lease needs to be drafted, and make sure you know what you are signing (proper terms for the lease when it will be prepared)  Make sure your offer is what you are looking for, and often in the contract to lease I put a clause in the remarks for my prospective tenants that the owner is to professionally clean the entire property and steam clean the carpets no sooner than 7 days prior to move in.  Also to paint a wall or two if they do not look good. The contract to lease is your offer and you should be clear.The reason that they are requesting protection (money in escrow) is because if both owner and renter sign the contract to lease, and then sign the actual lease agreement and there is no money in escrow, the renter can walk and the owner is stuck with having to put the property back on the market.  The owner can sue the renter if they do not adhere to the contract to lease and lease, but that rarely happens as it is more trouble than it is worth.
May 08
(0)

Need Recommendations for Trustworthy, Ethical Mortgage Brokers

Answer
Check my preferred lender on my profile.  He can assist (Florida licensed broker)  Call him and good luck.
April 16
(0)

Possible scam

Answer
Sounds like a scam to me.  Don't wire anything.  The property is active on the MLS and AX-1930495 is the listing number. (asking $2400 a month for an annual rental and listed on 4-3-2014)Contact the listing broker directly on that listing, and stay away from wiring money for a rental.   Always have money held in escrow by a company that is legitimate, and know who you are dealing with at all times.  
April 13
(1)

I am a relatively new realtor, how do I join and receive leads and how much does it cost monthly

Answer
I'd recommend that you update your profile, put a photo on there and a bio, and get some reviews from past customers.  Start there, and then speak to a sales rep at Zillow for more information.  Good luck.
February 17
(0)

Professional realtor fee my agent put in contract

Answer
Many brokerages in my area charge a "professional fee" or "service fee" when a customer sells or buys. The money most likely is going to the brokerage that your agent works for (not the agent).This is a legal fee for a brokerage to ask for, and your agent should have represented to you this prior to you making an offer.  Either you, or your agent will pay for this fee (brokerages usually require this with no exceptions)Additionally, if you are bidding on a short sale, the seller is not going to pay for anything most likely. You are buying as/is where is.  Also, just because you are under contract on a short sale, this does not mean that additional costs may not come up in order to close the deal.  You should budget to have to pay for additional expenses (water bill, past liens, short fall that the title company did not budget for).Short sales close, and are often the best deals on the market.  I would trust your agent, and  let her/him assist you along the whole way until you close on a home. They are not trying to pull a fast one on you.
February 05
(1)

what are the best first steps to becoming a first time home buyer

Answer
First step, contact a mortgage broker licensed in the state of Florida or three.  Make a couple of calls and talk to them.  Find one you feel comfortable with, and then have them pull your credit and pre-approve you.  After you have a pre-approval from a mortgage broker/bank (in writing), then you can find a good Realtor to start showing you homes that you can afford/qualify to purchase.Make sure you factor in home owners insurance, property taxes, HOA/Condo fees in addition to your mortgage.  Typically, you will need 25% down for a condominium.  If you have excellent credit and can qualify, you may be able to do a 5% down (plus closing costs) purchase on a single family home/townhome.Talk to a few lenders first!  Good luck.
January 13
(0)

Do I have any recourse if I had a contract on a short sale and it sold to someone else?

Answer
Your agent should have asked for the extension a long time ago and worked closely with the listing Realtor to insure that the deal would stay together.  If your contract expired and the property sold to another buyer, you are out of luck.  Move on and don't look back.
December 24 2013
(0)

can a landlord request information on a renter from a previous landlord?

Answer
Absolutely.  I recommend that the owners call the previous tenants landlord prior to renting a property.Additionally, I'd call their employer, and check their credit report (with a score) and 50 state criminal background report prior to making a decision.
December 20 2013
(0)

should I sell a fully paid property before I buy a new house? Or collect rent on the paid property

Answer
Hard to say, but if you own the property outright and can afford to keep it and rent it, that may be a good option.  Being a landlord is a bit tricky, but if you choose the right tenant (and get 1st/last/security up front), this would assist you.The price points for properties in Delray Beach have risen substantially over the last 3 years, and if you would like to sell in peak season which is basically here, it is also a good time to list your property for sale.I would speak to a local agent and figure out what a good rental price would be for your property, and additionally, what you can expect to sell your property for in today's market.  Once you know those two items, then you can make an educated decision.
December 02 2013
(0)

I am interested in renting in Delray Beach what is the best way to do this? A realtor?

Answer
I would recommend that you get your credit report with a score together, previous landlord contact info, letter from employer on company letterhead, and criminal background report in hand.If you have pets, have your pet vaccinations, licenses in order.Once you have everything together, call a licensed Realtor in the area and discuss what you are looking for, when you want to move, and your financial situation (do you have first/last/security up front to move in?) Are you looking for an annual rental?  Furnished or unfurnished?Most agents, including myself represent prospective tenants for rentals with qualified, serious renters. Some agents/brokers require that you put one month security deposit in escrow prior to looking at properties to show you are serious.  The good news is that is does not cost you any money to be represented by a Realtor when you are looking to find a rental property to live in.  Our commissions are paid by the owners and rental communities, not by you as a prospective tenant.Red flags to me are potential renters who work with more than one Realtor at a time, are looking to move in immediately, and do not have their paperwork in order prior to looking for property.  Additionally, if the renter walks into a rental community without their agent on their first visit, that is a bad sign as well.  We look for loyalty and patience with all customers: renters, buyers, and sellers.If you are looking to buy property, including a foreclosure, that is a whole other story, but you will need to have proof of funds for a cash purchase, or a pre-approval letter from a lender in order to start looking with a qualified licensed agent.  Both should be no older than 30 days.
October 23 2013
(0)