Bruno (Iarussi30) posted in my guestbook and I don't frequent there (but I'll get better) and I did not see his post until today. He needed help quickly and that was 4/19! My apologies.
Here was his predicament:
Tina, Im having hard time finding people sharing little details with me. I still on my first deal im doing wholesale and still stuck.
If im not bothering and if you have 5 minuts of your time i would appreciate very much. I dont have a mentor or someone that I can ask questions. I try send couple messages on forums but kind confusing still... never used forum before. Well i see that you done this a few times and if you would like to answer few of my questions i would be so happy!
I have a list of buyers aredy and I been putting lot offers today a REO deal accepted my offer zillow and totalview website says the house is worth it 138K I got the house for 36K 3 bed 2 bath need about 15 K reehab.
Well now i get to scrow the 1000 earnest money and they just told me that REO DONT do ASSIGNMENT CONTRACT!
what should i doooooo???
My response:
Bruno, this was nearly two weeks ago! I am so sorry, yes the forums are a little hard to navigate. Next time you help, PM me and post a thread by going to CONTRIBUTE on the left of the screen. That post will show up in WHAT's NEW and people will answer.
It sounds like you got a great deal, but you need to verify the comp (ask your RE Agent to do an MLS comp for you), have a contractor walk thru with you if nec to verify that there are no foundation issues (or other very expensive / permit type issues), contact a title co and ask for a PROFILE (a pre-lim title search) and you should be covered.
No you cannot ASSIGN REO's, but you can do DOUBLE CLOSINGS-- lots of info on the site here and in Dean's books and programs about Dbl-Closings.
I'll copy this and post it to the public part of the site. By asking on MY page, I am the only one who sees it, unless visits my page.
Hope you are doing the deal!
Good Luck,
Tina
__________________
Never, Never, Never Quit, N3Q
"Nothing happens until you place an offer."
"Skip Deal #1, go straight to Deal #2; it's so much easier."
"There is nothing so useless as doing efficiently that which should not be done at all." — Peter F. Drucker... so, "Don't sweat the small stuff." -R.Carlson. "The greatest mistake you can make in life is to be continually fearing you will make one."~E.Hubbard, The Note Book, 1927...so, Do it for the right reason and "Do it with a headache!" - Dean Graziosi, Weekly Wisdom #176
Bruno (Iarussi30) posted in my guestbook and I don't frequent there (but I'll get better) and I did not see his post until today. He needed help quickly and that was 4/19! My apologies.
Here was his predicament:
Tina, Im having hard time finding people sharing little details with me. I still on my first deal im doing wholesale and still stuck.
If im not bothering and if you have 5 minuts of your time i would appreciate very much. I dont have a mentor or someone that I can ask questions. I try send couple messages on forums but kind confusing still... never used forum before. Well i see that you done this a few times and if you would like to answer few of my questions i would be so happy!
I have a list of buyers aredy and I been putting lot offers today a REO deal accepted my offer zillow and totalview website says the house is worth it 138K I got the house for 36K 3 bed 2 bath need about 15 K reehab.
Well now i get to scrow the 1000 earnest money and they just told me that REO DONT do ASSIGNMENT CONTRACT!
what should i doooooo???
My response:
Bruno, this was nearly two weeks ago! I am so sorry, yes the forums are a little hard to navigate. Next time you help, PM me and post a thread by going to CONTRIBUTE on the left of the screen. That post will show up in WHAT's NEW and people will answer.
It sounds like you got a great deal, but you need to verify the comp (ask your RE Agent to do an MLS comp for you), have a contractor walk thru with you if nec to verify that there are no foundation issues (or other very expensive / permit type issues), contact a title co and ask for a PROFILE (a pre-lim title search) and you should be covered.
No you cannot ASSIGN REO's, but you can do DOUBLE CLOSINGS-- lots of info on the site here and in Dean's books and programs about Dbl-Closings.
I'll copy this and post it to the public part of the site. By asking on MY page, I am the only one who sees it, unless visits my page.
Hope you are doing the deal!
Good Luck,
Tina
Never, Never, Never Quit, N3Q
"Nothing happens until you place an offer."
"Skip Deal #1, go straight to Deal #2; it's so much easier."
"There is nothing so useless as doing efficiently that which should not be done at all." — Peter F. Drucker... so, "Don't sweat the small stuff." -R.Carlson. "The greatest mistake you can make in life is to be continually fearing you will make one."~E.Hubbard, The Note Book, 1927...so, Do it for the right reason and "Do it with a headache!" - Dean Graziosi, Weekly Wisdom #176