Okay,
This property was listed at 78k , it's an REO, my first offer was $49,978. The countered at $56.xxx and said they couldn't close until November 17th. My first offer was September 24th. I know I could have accepted their counter and made out well but I decided to wait it out. They then lowered the listed price 10k. I resubmitted my offer of the same price at $49,978. They came down to $52,xxx and agreed with my terms (buyer pays closing fees) Well.. I came up $500. to $50298. Supposidly we're in a multiple offer situation, word on the street is the other offer is in the low 20's so they basically will take mine.. GOD willing!
This will be my second deal.
I've still got a few in the bakery!
Dennis
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3 comments:
Hey man I was just going over your blog congrats on your first deal. And congrats on actually getting out there and doing it instead of making excuses. Feel feel to drop me a line anytime at darrian@tampahomerescue.com
Did this house need any work...If so..What is the cost of repairs? What are comps on this house.
Good Luck!!!
Hello Darrian,
Thanks! It's been a long road, but I look forward to the challenges ahead.
Anon,
Yes, there is about 7grand worth of work, and the comps are just about 104k, conservative.. I use .60 in this market, not .70 when calculating my offer price as well.
Dennis
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