OfflineThis is a short sale property that we made an offer way back in March. After 6 months of waiting the bank countered back 10K more than our offer of 23K. We rejected it & figured we would just move on ... but then we received a call from our REA stating if we increased to 27K the bank would approve the short sale. So we did, the bank then countered back at 40K, we told them to stick it ... a week later the REA calls to ask if we still want it for 27K(this is after
putting 3 others properties under contract to purchase
using cash), we said yes but what happened to the 40K; the bank went to the seller & told her they would sell it to us at 27K if she put up the other 13K, this way they would not foreclose & it would not mess up her
credit as bad; the seller went for it.
We did the rehab costing about 5K & was going to use it as a rental for a family member, they changed their mind so now we will flip it to a retail buyer.
It's a 2 bed/2 bath/1 car with 1202 sq. ft. under
central air, plus a 176 sq. ft. florida room. The house next to it is listed for 56K, even Zillow shows 51K, we have it for sale at 45,900. And as usual, if anyone brings us a buyer we will pay $ 1500 bird-dog fee!
Gary & Jill Finish Another Rehab
Posted on: Sat, 11/17/2012 - 20:10
Gary & Jill Finish Another Rehab
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- by gceriani
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Guess the banks found a way to give you what you want and collect the amount they wanted too.
www.tw4homes.com website
https://tvallc.isrefer.com/go/RehabLite/reigirl/ FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.
Despite buying dozens of REOs, this was the first time we had the patience to go all the way & complete a short sale deal. I never heard of a bank doing this before, but at least it all worked out in the end.
Could you tell us the address of this property? Or the ZIP code?
"The harder you work, the luckier you get." -Gary Player
Sure, the address of the property is 103 So. Desoto St. Beverly Hills, Fl. 34465. If anyone would like pictures, please send me a PM with an email address.
Congrats on finishing another. You sure had to wait this one out with the bank, glad you got it. I am sure it looks great like the others! I hope you sell Desoto fast. Hope you both are doing good and talk to soon. Have you guys been back to Charlie's for dinner?
Ryan
Thanks Ryan, all that rushing to get it finished & they deceided to stay where they are ... Will list it with flat fee after the holiday. Spent the last 2 days getting the new kitchen cabinets, counters, ceramic tile, laminate flooring & landscaping for Harrison. Have not been back to Charlie's, too busy.