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Discussion Starter · #1 ·
I remember reading a post about someone having a list of bank-owned properties and their bottom line sale price. Is anyone willing to help me find this post/person?

Thanks as always for any help,

Jason
 

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Discussion Starter · #4 ·
I think it was him, actually...
 

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there is NO bottom line price, don't let any realtor tell you they know what it is... the bank can and is FICKLE

however, we do have a system set up were by we lock in prices on offers that we farm out to investors on a first come first serve basis, its specific properties we have offers locked on and can reassign them to investors....

i cant give the details, but if you are looking for a flip house i can get some specifics from you and possibly get you on the investor list, we send out emails on investment houses we have locked up on offer and give you the terms and price, you look at the house and decide, the emails are sent to 12-15 investors and they decide, first come first buy, usually very good deals....

other than that, there is no one that knows a bottom line price, most banks do not put out a bottom line price, some banks actually list below what they think its worth and get multiple offers....

its a racket where the bank still rakes you over.....
 

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Discussion Starter · #7 ·
It's not for a flip; we're looking to move, but thanks for the info. The property we're looking at is being sold short, but has been listed since the winter. We're just wondering how much to lowball with our first offer. Anyone know any good inspectors in the White Lake area? We don't want to use the same guy we used when we bought this house.
 

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QUOTE(nitwit @ Jul 11 2009, 12:08 AM) <{POST_SNAPBACK}>It's not for a flip; we're looking to move, but thanks for the info. The property we're looking at is being sold short, but has been listed since the winter. We're just wondering how much to lowball with our first offer. Anyone know any good inspectors in the White Lake area? We don't want to use the same guy we used when we bought this house.

short sales are a different matter, usually the bank does have a bottom line price, but in this market its usually too high, because when they did their analysis and came up with their value, and then the property got on the market, and the people stopped taking care of it, and the market continued to drop, their bottom line price is usually too high...... from what ive seen lately, most homes currently in "short sale" status wont sell, and will fall into bankruptcy, or the current owners just will keep the house....
 

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It always makes me think of the seven signs of the apocalypse when Goose says something intelligent, I forget sometimes he's a grown up!
 

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my wife (izabela, aka polish princess) has been doing a lot of short sales lately. If you have a realtor they should be able to give you a good idea of what a resonable offer would be on a short sale. If you don't have one you should call my wife she has a lot of experiance with short sales. As a buyer you are not going to save any money by not using a realtor. If anything it will cost you money not having a expert working for you. You can get a great deal doing this but just beware that the banks work at there own speed and sometimes can take upto 6 months to make a decision on low ball offers. So if your in it for the long hall it can be a great way to go. IM me if you would like her to call you.

Jason
jasclark44
 

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dont be completely sold on the idea that short sales and forclosures are the only deals to be found
you could be better off finding a house listed for sale not under distress for as good a deal
keep in mind buying forclosures are a pain in the a$$, especially with the current banking system
and multiple bidders, and all the hidden problems, you could probably score a better house with less problems. just remember homeowners will take lowball offers also... and will be a much smoother transaction.. in my opinion every house in this market is a good deal....
 

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Looks like trouble across the pond. Can't get in there today ...

"This Account Has Been Suspended"

 

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QUOTE(sea urchin @ Jul 11 2009, 10:44 AM) <{POST_SNAPBACK}>dont be completely sold on the idea that short sales and forclosures are the only deals to be found
you could be better off finding a house listed for sale not under distress for as good a deal
keep in mind buying forclosures are a pain in the a$$, especially with the current banking system
and multiple bidders, and all the hidden problems, you could probably score a better house with less problems. just remember homeowners will take lowball offers also... and will be a much smoother transaction.. in my opinion every house in this market is a good deal....

so true, we put in like 10-12 bids on repos last year with no luck and ended up buying the current house we are in from a private owner for a really good price, 30 days from offer to close with no problems....
 
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