7/31/2008
Well, I got another one under contract today! I'm actually pretty shocked about this one. When I made my initial offer, I figured I had no chance in hell of getting it accepted. It just came back on the market at 63k, which is already a pretty good price for this house. I offered 45k with 1k emd and 3 week close, no inspection contingency. Their first counter was 62k, 5k emd, 30 day close, no inspection. I countered back at 46k, then they came back a few days later at 57k. 2 days ago, I countered back at 47k, highest and best, and late last night I got an email from the listing agent telling me the bank would do 50k. 50k is a no-brainer price for this house (I wholesaled a similar one 3 houses down for 65k a few months ago). I don't think I will have any problem at all getting rid of this for 59k, and I have over a month to market it (bank's choice, not mine), so this will be a nice little payday.
The stupid, pain in my ass, pink house does not look like it is going to close tomorrow after all. I'm still waiting to hear for sure, but it does not look good. I won't bother to go off about how incompetent the bank's title company is, because I'm probably starting to sound like a broken record. I seriously can't believe that we were supposed to close this a month and a half ago, and they still aren't ready. I feel like such an ass going back to my buyer time after time and telling him it's going to close "next week." He's gotta be pretty frustrated by now. I know I am. The bright side to this is that this buyer is the same person who bought the house for 65k right up the street from the one I just got under contract today, so, if the pink one doesn't work out, I know he will take this one for 59k. I just don't know if he is willing to wait another 30 days for closing. We'll see what happens- it's out of my hands right now.
I'm going out later this evening with another wholesaler to put some signs out for the property I just contracted, and also to see if I can wrastle up some new buyers via "for rent" signs. Oh, and I'm also going to steal a puppy from this asshole's house that is right next to the one I just put under contract. The poor thing is tied to a fence with no food or water, and has a chain tied around it's neck so tight that it can barely breathe. I got him some water before I left, loosened his "collar" and also untangled him from the fence. You can tell that he has been beaten because he flinches when you try to pet him. Such a sweet dog. I am going back under the cover of darkness to get him out of there. And then I might send over some of my friends in low places to beat the shit out of the owner.
