OfflineHello DG family,
I want to start making offers on some REO properties.
What kind of contingencies can I use when making offers
on bank owned properties?
Thank you
Eric
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contingencies
Posted on: Fri, 04/09/2010 - 15:50
Depends on property
Time to close (30-90 days)
Closing subject to appraisal or inspection....
....to finding end buyer without recourse
....time allowed to receive earnest money back(highly doubtful in most cases)
Just a few but again depends on the property individually
This may sound like a silly question but are Contingencies and Clauses the same thing?
"Whenever you find yourself on the side of the majority it is time to pause and reflect."
-Mark Twain
An inspection clause and partners approval will get you out of most deals if done within the inspection time frame.
Thanks for the info. I just found a Realtor at my local Reia that is willing to help new investors.
I will post when and how my first deal goes for me. I can't wait to get going.
My first deal fell threw....I was going to place a bid on this property & i find out there were 2 others bid on it .....another offer was accepted...
I will post again on the next property i find...
I was curious for an update. How are the offers going?
Richard
Bothell, WA
Know what truely matters in life, consume yourself with that, and you shall never be disappointed, afraid, or alone. Give your gratitude always, give respect to everyone, and you shall never be anything less than what matters the most. Give praise to the Lord, forgive yourself and others, and with all of this together you will get a taste of what heavens lie ahead.
I will post again on the next property i find...
deals are a dime a dozen. you'll find another