OfflineI have a question(actually a couple) on
how to proceed. Following deans book (BARM)-I've gotten to know my area well for investing possibilities. A 4BD-2BA house in this VERY NICE neighborhood is 4sale via agent for $120k. Every house around this house (via Comps)go for $160k-$200k. This is a Grade A neighborhood with much stability and very attractive. Is there a "Formal offer sheet" to make an offer to an agent ONCE i see the inside of property and determine nothing unusual (crackd foundation;etc)? I want to offer $100k(should i try Coastal for proof of funds-I got bad credit and no $). If accepted-I would like to assign for maybe $10,000 so investor gets @50k+ in equity. Thoughts anyone....? *and is there a "Formal Offer Verbage" guideline that I can fax to selling agent? What does one say (or not say) on a faxed offer? Thank you.
JER 29:11 Thoughts of Hope; thoughts of a blessed Future
I am not sure about a verbal offer, but I am pretty sure they will want it in writing. But you can just do a written offer, use costal funding for proof of funds (this is free), and put in an escape clause in your offer so that you can get out of it if you don't find and end buyer, etc.
Jeremy
This train, Dreams will not be thwarted
This train, Faith will be rewarded
Big wheel roll through fields where sunlight streams
Meet me in the Land Of Hope And Dreams
Bruce Springsteen