1/20/2009
Well, I was an offer makin' fool today......
I got on a roll and just couldn't stop myself.
That happens sometimes.
I submitted 9 offers total, my favorite being the one I made for 8k. I doubt I'll get it accepted at 8k, but you never know.
I kind of had another epiphany after I got that last offer accepted for half of list price. The epiphany being that I need to be offering much lower, because the banks are really starting to take some huge discounts, and I want to take full advantage of their "generosity". Hehe.
I'm going on another sign mission tomorrow morning (when I put signs out in the hood, I always try to get there as early as possible, as there is much less of a chance of getting heckled and/or barked at) to market the deal I was talking about in my last post. I already have two solid cash offers on this deal, but I'm pretty sure I can get more, and I've still got 3 weeks til closing, so I'm holding out for a higher offer. This is a first for me, as I usually take the first thing that comes my way even if I know I can get more..... This is a bad habit that needs to be broken, so I am going to break it.
And that's all I've got for today. 10-4, over and out..
P.S.
If anyone happens to run into Mother Nature, can you please tell her to TURN THE DAMN HEAT UP? I'm about 2 degrees away from packing it up and moving farther South. Seriously.
Tuesday, January 20, 2009
Offer Slingin'
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19 comments:
It was -15 here last week, so I don't want to hear it from you Floridians!!
Cold in Flordia? It was in the 80's here in SoCal hehehehe
Yeah-I'm freezing my ass off.
I can't stand this crap.
Boooo.
At least you don't have to leave the house to look at houses.
Hey Mike,
My days of blind offers are over- I go out and look at them now..
Steph
Dumb question but do you actually go inside? I only ask becuase I know its not always an easy task to have the realtor meet at the house.
Hi Steph,
You said" I already have two solid cash offers on this deal, but I'm pretty sure I can get more, and I've still got 3 weeks til closing".
Does that mean you made the offer with a closing in ?? days?
Anonymous- yes, I go inside the houses. Usually the listing agents will give me the lockbox codes.
Jay- I offered to close in 3 days (knowing that there's no way the bank can get it done that fast), and when they set the addendum/counter offer back, they extended the closing date out 3 weeks.
Interesting...I am gonna try that.
Thanks
Be very careful with that Jay..
I did that on one of the deals that closed in December, and the bank was actually able to close it in a little over a week. I had a cash buyer in mind already that I knew could close fast, so I was able to pull it off...
Steph, don't bother coming further south to Ft. Lauderdale! It was 39 degrees when I woke up this morning! At least the sun is shining though...so we'll get up to the 50s. I don't think any Floridian are escaping the cold at the moment!
I was thinking more along the lines of Costa Rica.... :)
I've lived in Tampa since '94, and I don't ever remember it being this cold. There was frost on my car this morning, for Pete's sake!
Congrats on your deals! Question for you: have you ever not closed a deal because you couldn't sell it? If so, how did you handle it?
Hi Raquel,
I had one last summer where the buyer's hard money fell through the day before closing. I had another buyer lined up but just needed a few extra days to close it. I tried to get an extension from the bank, but they wouldn't do it, so I ended up losing the deal (and my 1k dposit). I ended up making a grand because I got a 2k deposit from my buyer, but it really sucks to not follow through with what you agreed to with the bank and the listing agent.
It won't happen again.
Steph
Steph, I listen to Tampa radio WFLA 970 online during the day because they have good talk radio. I noticed they've been talking about seriously low temps in Tampa! I hope you survived. I'm used to that up here in Maine where it's 20 degrees all winter.
I made 5 offers today, and 4 of them I found out are already under contract. Got to move faster.
Hi Tim,
Yeah, it's friggin cold here! I'm just staying home until it warms up, which should be in the next day or two..
Nice job w the offers. Did you ever find a buyer/partner for that deal a few weeks back?
No, nobody pulled the trigger, and I ended up losing my $500 EM. That is a big hit for me. But I think the house just had a few things that scared people, such as no garage (every other house had a garage), and the bathtub had a low ceiling, which meant no shower. Also, I need to negotiate in such a way as to never be under contract until I have a sure cash partner.
Steph, what zone is the typical REO you put offers on? It seems like all the REOs in my area are all in the 6-8. The banks are not coming down much on these.
Sorry to hear that Tim. I agree with you- have the cash lined up first, and then go get the deal..
Stick with it. You've already come a long way, and I know you will get there if you just keep at it.
Anonymous- Right now I'm going after the stuff at the bottom of the barrel. There are really no war zones in Tampa, but the area I'm working in is one of the worst (if not the worst) neighborhoods.
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