DeeinAustin

I'd like to rehab in San Antonio as well. We'd like to keep the ARV to under $200k so we can do 1-2 houses per month. I'm most familiar with NE San Antonio in the Kirby area. - Sat Jun 14 2008, 05:50

If you'd like to compare CMAs with raw MLS data, you can visit AustinRealEstateToday.com, put in the details on the Home Value report. If you haven't used it, it's the Top Marketer tool from Top Producer. Feel free to use it or even have the client use it. You can see all active and sold properties that match in an instant.

Try it and let me know what you think. http://www.austinrealestatetoday.com/your-homes-value - Thu Jun 5 2008, 05:53

Charles E. Brown teaches classes in Austin. He's board certified in both residential and commercial real estate. He goes by Charlie Brown so his name is easier to remember. 512-346-6000 or 695-4442. Julie Alexander is also very personable and good. http://www.AustinCondoLaw.com - Thu Jun 5 2008, 05:49

Your "best answer" is assuming your agent wrote a contract using the Texas Realtor Forms. Agents always think builders use those forms, but they have their own forms 90% of the time. The TAR release of earnest is assuming you have the right (per the contract) to release the earnest money. In this case, it would have to be in the contract and/or you would have had to use the "Third Party Financing Addendum", which, again, is a Texas Realtor Form. 9 times out of 10, the builder did not let you use this or the time period listed there may have expired already.

To be honest, you usually can't get out of a contract with a builder if it's for medical reasons. Those reasons would have needed to be outlined in the contract itself. I highly doubt it was. Also, builders are not governed by the Texas Real Estate Commission (TREC), which is how agents are governed, so you don't have the same remedies. They are under the Texas Residential Construction Commission (TRCC), so you can call them for info about any builder. http://www.trcc.state.tx.us/default.asp

I wonder if you can get your earnest back due to lack of financing since you may not qualify. You may want to call your lender to get a letter. Again, this would need to be in the contract you signed, but it's worth a shot. - Tue Jun 3 2008, 20:20

4-plexes aren't as great to convert in Austin because they're often way outdated and old. If you're going to convert, you'd want to choose a small apartment complex or duplex. Apartment complexes are tough bets in Austin because there's so much competition for them. There's also so many conversions that have taken place ,especially in Central Austin, that there's been a glut.

Some investor specialists do conversions, but there's no one company who specializes. Julie Alexander's company specializes in condo conversions on the legal side, so she will have references. They do about 80% of the condo conversion docs in town and are the closest thing to a "specialist" out there. AustinCondoLaw.com is her site I believe. - Tue Jun 3 2008, 20:10