1st deal rejected

Don't let 1 set back deter you from your goals, do you hear me. Don't you ever give up. Next step is to dump your realtor and look for someone who wants to work with you and your style of REI. Keep your chin up, better days will come to you.....Jan

Good Job... Don't let someone tell you what you are going to do. The bank will prob not want to see assignment contracts anyways but you never know until you try. You would figure in a down economy she would at least want to try to send the offer over and see if they would except it to make a deal happen. Guess she didn't really feel like working!!

There are too many money making deals out there to waste time on one... Move on and make a good deal happen!!

unless you already signed a contract with her, you can use another realtor and put an offer in on the same property. You might not get anything out of it but satisfaction, but hey, that can go a long way sometimes. You've got nothing to lose.

Rina

A "no" just brings you one step closer to that "yes". So don't give up, like everyone said here, keep on making those offers and yeah, I'd get a new realtor while I'm at it.

Rina wrote:

unless you already signed a contract with her, you can use another realtor and put an offer in on the same property. You might not get anything out of it but satisfaction, but hey, that can go a long way sometimes. You've got nothing to lose.

Rina

You may have a problem with this. You may have two Agents fighting over the commission. If the first Agent intoduced the property to the buyer, and that buyer purchases the property, the first Agent is entitled to the commission. If you want to do this, to make a point, have the first agent release any claim she has to that property, with you as a buyer, in writing.

Al

We have put out bandit signs for three weeks with free recorded info message.
They were set into the ground with the wire holders. People were taking them down. Has anyone had that same problem? So we decided a week ago to put the bandit signs on the telephone poles. We put them 7 to 8ft above the ground. We are getting phone calls on our 800 number but no messages yet. Does anyone have any suggestions?

Thanks
Beth

I have a suggestion, i feel it's more, uh?, "personal" when using a NON-800 number(local number) i actually use my personal phone number, Now i'm NOT recomending that, but it's a LOCAL NUMBER, nun the less, i think people just "respect" it more--maybe instead of having the call forwarded to a message, have it go directly to YOU, i think you might get better results, SULLY

The best time to put bandit signs up are late Friday evening or early Saturday morning, that way the city usually doesn't take them down til Monday morning. I don't know when you're putting them up, but many other investors are taking them down as well. They fear the competition, which is really imature in my opinion. But that's the problem you run into with bandit signs. I would just keep at it, also get the numbers off other bandit signs you see while you're putting yours up. Ask them if they have the same problem, they might be the ones taking yours down... LOL!

alchristmann wrote:

Rina wrote:

unless you already signed a contract with her, you can use another realtor and put an offer in on the same property. You might not get anything out of it but satisfaction, but hey, that can go a long way sometimes. You've got nothing to lose.

Rina

You may have a problem with this. You may have two Agents fighting over the commission. If the first Agent intoduced the property to the buyer, and that buyer purchases the property, the first Agent is entitled to the commission. If you want to do this, to make a point, have the first agent release any claim she has to that property, with you as a buyer, in writing.

Al

Thanks for pointing that out.
Wouldn't she have broken some kind of agreement by refusing to put in the offer? Is there a release "form" that Bernie would have her fill out, or just have her write something up? And what would you have to disclose to the second agent?

Thanks,

Rina

I have only heard of this happening. As far as the Agent breaking an agreement and losing claim to the commission, that would probably need to be decided by a mediator. As the buyer, you should discose to your new Agent that another Agent had shown you the property. If you can get a written statement from the first Agent, to release his/her claim for a commission on that property, then you could proceed with a new Agent.

Al

I was considering assigning REO properties. I thought the bank would freak out at the sight of an "and/or assigns" clause. But, we've been in a buyer's market for a few years now, and probably will be for a few more. With record-high and nation-wide foreclosure rates, wouldn't parties holding REO's WANT to "play ball" with anyone who contacts them at this point? I guess it matters how many properties they have to hold. If it's 15 or 20, they can still dictate their own sales, and they will. But, if it's a bank with volumes of foreclosures (and a couple peoples' jobs on the line if they don't get them off the books), what's the big deal?

If you have a written agreement with this agent, it sounds like she's tiptoe-ing on the edge of her contractual duties. She "says" she talked to the bank in the middle of writing a contract? She "thinks" they don't want to see assignments? Aren't you supposed to get "shot down" in writing, or is this agent a psychic? I'm not being rude, it just sounds suspicious to me.

WHY would any party freak out over an "inspection" clause? (Aren't inspections kind of required?) That makes no sense to me at all, unless the property has a HUGE problem with it. In most states, the bank/seller would have to disclose that up front anyways (black mold, asbestos/lead, flood damage, no roof, etc., etc.) I don't know the particulars of your attempt outside of what you posted, but it does not sound like the bank is the problem, at this point.

No offense to her, but it sounds like carefully worded excuses. Maybe she's insecure about writing your offer? Maybe the better route would be to write it on your own? I'd simply say, "sorry, I'm new at this, let me draft what I want to say, and when I'm ready, just send it over for me, okay?" At least the pressure's off her, so she'll feel alot better. That alone might ease the situation. In a math-based transaction, without a seller (and his family) trying to make a profit off you, you'd be amazed how much emotions still have a stranglehold on your chances for success.

Even if you make no changes to your offer at all, you'll be much closer to finding out "why not" on your 2nd attempt. Once you locate and define the "why not," you can tackle it with everything you have. If they fax back a big huge "NO!" at least it's on paper, so you know where you stand. But I would imagine they'd counteroffer instead. If you don't have an agreement with her, you can do (or not do) whatever you want, and so can she. If she's scared, take the ball for a minute, then hand it off to her. If she's rude, dishonest, or stonewalling you -- NEXT agent!

Bottom Line: If you stand to make more than $5k off the transaction, it's worth at least a little more effort. Don't give up on this one just yet.

I am a longwinded beginner, lol, and I'm just now trying to make the investing "rubber meet the road." I may have raised more questions than I answered. I apologize in advance if that's what I've done. I hope this helps...

Love the Godfather pic, BTW...