OfflineWell, our house finally appeared on Fannie Mae's web site today. I called the listing agent...
Of course, she told me that she has 4 other offers coming in (what, no one knows about this house). I think she was bluffing but, I am not sure.
She listed the house for $79,900 (it did not sell at auction for 50K so....). I think that listing price is "crazy high" for this area.
I stuck to my low ball offer $25,500 CASH with the closing in 7-14 days. Plus, buyer agrees to pay closing costs, taxes, and realtor fees.
Now, I only have $35,000 to play so, if/when they counter or reject, I do not have alot of bargaining room.
She did the contract but had to submit the offer online to a company called 24AMN ... the company selling it (?) and she noted in the comment line the reason for the low offer is due to the MOLD. She commented on it in the remarks section but, said she could not send the actual estimate thru their system. I think this was a mistake but, she refused to send it with our offer.
So......do any of you have a thought as to if this will get laughed at ?????????????? I just have a bad feeling because the realtor seemed less than interested in working with us and only submitted the offer because she was "required by law" to do so.
~~~~~~ Praying for our dream house ~~~~~~
Good luck, KariNmike!!! Hope everything turns out good for you. Keep us up to date on it.
Brian
if its been available for this long after being forclosed and going to the auction, and now Fannie...
i say stick to your offer. i know its your dream house...but if its not good money to up your offer than stay with in your means.
when a month goes by and its still not sold call her back. and ask about your offer...then if another month goes by, with out being sold, call again and offer lower than before.
it will fall in your lap soon enough just be positive.
Larrys houses!
impossible is nothing!
Good luck on your first offer. It only takes one to get things rolling. Keep us informed and good luck on all your fuutre real estate deals. Believe and Achieve!
- Joe
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At least you made your first move.I just start reading the book and is yet to make a move. Congrats
At least you made a move. I just start reading the book and is yet to make a move. Congrats!!!
I think that you are on the right track with your offer. Don't give in and don't let the realtor get you down. They are working for you and if you are not happy with their performance you need to find someone who shares you common goals.
I also am just getting started with the system, and I'm not sure if you can get another realtor to submit your offer for this deal, but if you can I would highly suggest it. I just finished chapter 7 in Dean's "Profit From Real Estate Right Now" book and it is chalk full of great ideas on how to find a realtor who shares you common interest.
Best of luck to you, I am certain you will be successful if you just stick to the lessons that you have learned through DG's course.
Hi KariNMike,
You have a better chance getting the deal because you are offering a cash deal and a quick closing.
I just became bilateral on a contract because I also offered cash and a closing within 15 days. The closing should have been done last Friday but the bank couldn't get there end together that fast. Hopefully we will close sometime this week. But, my point is --- I got the deal because it was a cash offer - as is. They had four other offers for more money but mine was a "sure" thing.
Good luck!
Rhonda
I'm hoping cash is king. I've just offered on my 2nd REO. Bothe offers have been cash. Didn't get the first one, this one I took "as is" asking for nothing, not even an inspection. The bank is going to replace the roof and the stove.
It will be a good buy and hold for cashflow. Here's hoping for you, KariNmike.
Cathy
Cathy B
Follow my progress at:
http://www.deangraziosi.com/real-estate-forums/investing-journals/44397/...
Regarding the mold issue if you haven't read my postings about it I encourage you to that way you know what needs to be done & how to take care of the mold problem.
I would find another agent if your not happy with the one you have now & she's not meeting your needs, as long, as you didn't sign a contract with this agent, wait for a little longer to see if your offer is accepted which I hope it is.
Everybody Can Make A Difference!
John A.
Good luck to you! I hope all goes well. Be sure to keep us updated as things progress!
-Mike Hutchins
I too would like to congratulate you on taking the most important step in building your real estate career! That is making offers!!!!! It's like the old saying nothing ventured, nothing gained. There may be several offers submitted but no one knows the details of the offers ie price and terms. Real estate agents tend to be a little negative when it comes to lowball offers. They of course are paid a commission based on purchase price and they know the closer the offer to asking price the more likely it will be accepted. Hey! If you lose out on this one remember their is always another.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Good luck on your offer! And yes, Cash is King, like Rhonda said (especially as-is)
.
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
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Stick to the offer you presented, and if they do not accept, add fifty dollars more and state that this is your final cash offer. Good Luck and God Bless.
Sandra
"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.
Some of the best deals that I have done were the offers that I was afraid were going to get laughed at. If there is one thing that I learned is that if you are not embarrassed by the offer that you put in than you offered to much!
If it is meant to be it will be!!
Good luck!
Do not fear, for I am with you; do not be dismayed, for I am your God.I will strengthen you and help you; I will uphold you with my righteous right hand. Isaiah 41:10
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To your success,
Carol Stinson