7/24/2008
Well, the deal that was supposed to close today did not close, and the one that is supposed to close tomorrow (the pink house that was supposed to close a month or so ago), is not closing tomorrow either.
Any guesses as to why they didn't close??
I'll give you a hint- it begins with a "B" and ends with a "ank's stupid-ass title companies."
My favorite part was this morning when they sent over an extension for the one that was supposed to close today (the one where my title company has been ready to close since last week and the lady at Watson bit my head off when I called her to see when we could close)...Anyway, so they send over this extension and tried to get me to pay $100/day for each day it goes beyond the original closing date!! HAHAHAHAHAHA!! At least they have a sense of humor along with being slow and rude and incompetent. I sent the extension back with the $100/day nonsense crossed out and a little note letting them know there is no way in holy hell that I am paying a single dime for their screw up. Haven't heard back, so I'm guessing they aren't going to press the issue.
Nothing else exciting to tell. I'm pretty close on another deal, but still going back and forth with the bank. We're 8k apart right now, and I'm not going any higher, so we'll see. I've already got a buyer lined up if I get it, so that's a bonus.
Roger Dodger. 10-4 Over and Out.
P.S.
If anyone has sent me an email recently, and I haven't responded, it's not because I'm an asshole, I am just really behind right now. I swear.
0 For 2
Thursday, July 24, 2008
0 For 2
Posted by Steph at 9:37:00 PM
Labels: banks are slow and stupid, buying an REO, closing REO deals, flip reo, flip reos, flipping an REO, flipping bank owned properties, flipping reos, how to flip houses, reo flipping, reo investing, REO title companies, simultaneous close on an REO, Watson title sucks
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2 comments:
The sad part is that somewhere in that Bank there's a Jr. VP of Vendor Contracts crowing to Senior Management about how much money they are saving the bank by giving Watson the sole source contract! Helooo, the low bid is not always the best bid - sometimes you get what you pay for.
Press on Steph,
jimi
Steph-
I feel your pain. I deal with bank deals everyday. I swear the banks find the worst (read: cheapest) title company in town.
I never can get anyone at the title company to return calls or emails. Sometimes I resort to showing up at their office and demanding to talk to the closer!
Don't get me started on the $100 per diem. I have banks take 2-3 extra weeks for a closing and then get all fussy when my buyer is out of town and can't close 12 hours after they decide they are ready!
Dig your heels in and they usually cave!
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