OfflineHi DG family. I live in Levittown Long Island Ny, me and my lovely girlfriend have found a few property that are distressed and bank owned.
Currently there is one property that we are getting into that is bank owned (wells fargo) and has an agent assigned to it. Well today we had the agent come down and show us the property.
The outside need little work (yard work) but the inside need work. Tons of walls have patches, carpet,plumbing (winterized), etc...
The agent told me he has it currently under contract (why would he show it to me?) but the offer is too low (230k) and that the bank will take $250k...
i did a quick comp and the value is about 315k, repairs from what i say (unofficial) would be about 15-20k and i guess my fee of 5-10k (does this sound acceptable of way over my head)
he would like to hear from me asap but IM starting to feel like im getting stuck... i want to offer him 180-190k but idk, ANY advice or comment would be amazing dg family.
Thank you so much and sorry for the length of the post ; )
I say if it is property you want to offer on. Make sure the ARV is accurate. Then offer what you feel you should offer for it!! His offer has nothing to do with you. Bascially who cares what he has it under contract for. Do your research and offer what you feel!! And ask him if it is under contract, whats the hold up and when is his closing on the property set for?
I got my mind made up.....
www.Kingjussinvestors.com
www.jussinvestors.com (buyers site)