Can I use conventional financing to pay for a property?
Unfortunately, no. All our deals are Cash or Hard Money only. Hard Money is private money lending and is often utilized by rehabbers for shorter lengths of time. Typically, annual interest rates are in the 11 – 12% range with additional points of 1 -3 %. If you need a Hard Money loan, we may be able to help. Please ask us.
How can I see a property on your list?
Please call our office at 786-454-2888 and one of our staff members will be more than happy to arrange a showing for you. Some properties have lock box access while other properties must be shown by appointment.
How long is my inspection period?
Most deals come with a ZERO-day inspection period. If you are not comfortable estimating your repair costs, it is advisable to bring a General Contractor with you before presenting your offer.
All due diligence must be performed by the buyer. Please see our Disclaimer for further details.
All deals require a non-refundable escrow deposit which is typically anywhere from $5000 to $10,000. However, on larger deals the deposit may be more. In the unforeseen event that clear and marketable title cannot be delivered prior to closing, your escrow deposit will be refunded by the closing agent.
Proof of Funds (POF)
Some deals may require proof of funds indicating that you have the money to pay for the property. Proof may include a bank statement or other financial investment statements. Please “white out” account numbers if asked for a Proof of Funds (POF)
Closing Agent/Title Work
Buyers must close their transaction with the Seller’s Title Agent.
Is Patton Investment Properties representing me?
Patton Investment Properties is a marketing company and as such we are not representing the buyer or the seller in the transaction. However, we are licensed real estate professionals in the State of Florida.
Do you own these properties?
We do not own the properties. However, either our marketing partners and/ or Patton Investment Properties control the properties by having an equitable interest in the properties via a purchase and sale agreement.
Are your prices negotiable?
The properties on our list are already discounted. However, in some instances there may be room for negotiation.
How is Patton Investment Properties different from real estate agents/brokers?
While we welcome real estate agents and brokers to bring buyers for the deals on our list, we do not pay them commissions. They add their fees on top of our price. All pricing is “Net”. Additionally, if you’re not represented, we don’t charge you a buyer’s commission if you purchase properties on our list. You pay the “NET” price.
Why don’t you offer comps or provide ARVs?
We do not provide any due diligence on any of our deals. We market hundreds of properties monthly. If you are looking for detailed analysis we suggest working with a licensed real estate agent/broker to provide you with the specific information you need.