Seattle R.E. is La La land - Posted by Johnsterling
Posted by Johnsterling on October 01, 2003 at 12:10:22:
Drove out to a 1993 FHA foreclosure just outside the Seattle area. The possible deal was just what I want and what I look for, basically one deed on the property from 1993 and never been in foreclosure before. The property tax assessed for $195K and the cost to cure is $107K. After looking at the house I figured it was in need of major rehab overall and might appraise “as-is” for say $170K or maybe $175K.
The house is 1 month from the sale and the sale today is still on. Anyway, the owner answers the door and just lloks around the door frame…she is very friendly and I believe what she is saying. After a few years of selling you slowly start to understand and hear what is really being said when the other person is just telling you a story or telling the truth.
So I am thinking I would pay $115K for the house, that’s it! NO wrong answer, we are in “la la” land. The seller has it in escrow and it should close very soon for $170K!
Sellers in Seattle or la la land can get 95 cents on the dollar in foreclosure for doing nothing but answering the door and listening to an offer! She might be ahead in the end since there is no real estate commission to pay! ha-ha…maybe I could sell a seminar on how you can let your house go into foreclosure in seattle and get top dollar for your home by saving the Realtor commission!
Truth is always stranger then fiction