Another missed opportunity? - Posted by CurtNY

Real Estate Investing
1

Posted by CurtNY on May 09, 2000 at 15:13:57:

Thanks JPiper,
I didn’t think so, but most of my experience has been with all cash, bank owned properties. I’m not used to this multiple offer idea but I like it. If anything comes of this I’ll let you all know, thanks for the response.

CurtNY

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Another missed opportunity? - Posted by CurtNY

Posted by CurtNY on May 09, 2000 at 11:48:39:

If you read my post last week, I only ended up making one offer rather than two. I just couldn’t seem to come up with an owner financing scenario that would work for both of us so back to what I know - ALL CASH. Offered $36,214 all cash as-is. Called him a two days later (just a reminder- asking price was $80,000, comps $115,000, repairs approx. $45,000) he told me he got an offer at his asking price with a little owner financing. This guy knew his house needed a lot of repair so he wasn’t suprised by my offer. He did mention he didn’t feel confident his buyer would be able to close so I told him to give me a call if things don’t work out. What do you think, was there a deal at his asking price with owner financing? Let me know.

CurtNY

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Another investor or owner/occupant? - Posted by SteveA (FL)

Posted by SteveA (FL) on May 09, 2000 at 14:15:03:

Can’t compete with those O/O’s.

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Re: Another missed opportunity? - Posted by Eduardo (OR)

Posted by Eduardo (OR) on May 09, 2000 at 13:08:52:

Curt–

People do crazy things all the time. Lady in my area bought a house for cash without going through escrow and having title checked. Seller cashed her check and took off. Couple of months after she moved in the bank called and said, Where’s our payment? Turned out there was a whopping big mortgage on the property. Lady lost everything. But, maybe seller is lying to you. Happens all the time. --Eduardo

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Re: Another missed opportunity? - Posted by JPiper

Posted by JPiper on May 09, 2000 at 13:01:34:

Assuming your repair estimate is correct, there was no opportunity at the list price, owner financing or not.

JPiper

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Re: Another investor or owner/occupant? - Posted by CurtNY

Posted by CurtNY on May 09, 2000 at 15:10:46:

Not sure, I think it was an O/O. I’m going to follow up in two weeks I’ll let you know.

CurtNY