What are the services offered?

We provide real estate services to home buyers, new investor(s), experienced Investor(s), and the formation of investment groups such as real estate syndicators, hedge fund capital groups, and private equity funds. We do not represent or work with wholesalers, resellers, discounters, and similar businesses.

Jay The Realtor's Market is in West / Southwest Houston, Texas.

Jeremy Michael Cummings,  trade name "Jay The Realtor", a Licenced Texas Real Estate Agent, assists client(s) with the rental, and purchase sale of commercial, or residential property.

Initially, Jay will search for properties that meet the needs of the client(s) schedule viewings, and prepare the offer to the dispositioning party.

Jay will request the execution of a Commercial Buyer Representation Agreement before the first showing of the first property.

WHAT ABOUT THE REAL ESTATE BROKER COMMISSION?

Jay The Realtor, the sponsored agent of The Real Broker, LLC charges a" Brokerage Commission Fee" for a successful acquisition resulting in a title exchange. The Fee is 1.000% of the Final Sales Price.

The Buyer Will NOT be asked for a Buyer's Agent Brokerage Commission Fee for On-Market Property Sales.

The Buyer's Party Will be asked to pay a Buyer's Agent Brokerage Commission Fee for Off-Market Property. Sales. Because of the nature of the sale request for this property.

Off-market multifamily properties (100 units and below) are not priced with the expectation that the Seller will pay the Buyer's Agent Commission. These opportunities are organically created through our property owner and broker relationships, we ask our client to satisfy the fee as the Off-Market Asset's price would likely absorb the Fee. 

WHY WOULD A PROPERTY "SELL OFF-MARKET"?

There are many reasons that a property owner would decide to sell their property without taking it to market, including:

Fewer commissions and finder’s fees are paid to brokers, which means the seller will net more on the property Less “sales” risk, since tenants can see on-market properties as a risk to their business and will sometimes move elsewhere.

Sellers will typically avoid lowball offers and avoid time-wasting tours from unqualified buyers who don’t have the ability or don’t intend to close on the property. Also, the Sellers may desire less intrusion or unwanted attention within the operations of the asset.

WHAT TO EXPECT WHEN WORKING WITH Jay?

Prospect should expect to receive multifamily opportunities as soon as they are located and available.

Client(s) has the sole discretion and the right to elect not to proceed with the Transaction with the Seller at any time up until the execution of a Purchase and Sales Agreement.

Assignment to third parties other than the Buyer's business formation is typically not allowed.

No "Site Unseen" Purchase Sales Agreements will be submitted.

Seller will not release confidential information without Buyer's Confidential Agreement and Business Resume for larger Properties.

During the offer and negotiation phase, the Seller has the right to approve or determine any matter, with the Seller's approval or determination at their reasonable discretion, unless expressly provided otherwise in the executed Letter of Intent.

Seller shall provide or pay for a property survey if required.

The Buyer's Party shall choose the Title/Escrow Company.

No Transactional Funding is allowed (Excluding a 1031 exchange).

A non-binding Letter of Intent is required before the site scheduling on properties of 10 units or larger. 

Partial Earnest Money Deposits (EMD) are due when presenting a Letter of Intent on properties of 50 units or larger.

Seller will review Letter of Intent without the following: Broker Representation Agreement, Organization Chart including Property Management, Sponsorship Resume, and Loan Term Sheet. ** Completed Credit Report Application if Buyer intends to assume current Seller's Loan.

All contingencies shall be dissolved before presenting the Purchase and Sales Agreement. The remainder is due at the execution of the Purchase and Sales Agreement.

purchase 2- 4 Unit property with FHA loan

Many New Investors choose to become both homebuyers and investors by purchasing a 2-4 unit home. Many investors choose a “standard” FHA loan to buy this property. Also called the 203(b) loan program, this type of FHA loan features the down payment and credit score requirements discussed above.

• Credit score: 500 (10% down payment), 580 (3.5% down payment) Down payment: 3.5% (score 580 or higher), 10% (score of 500 to 579)

• Debt-to-income ratio: 43%

• Mortgage insurance: Yes

• Income limits: No

• Occupancy: Primary residence only

• Loan limits: Yes