First offer accepted !

First offer accepted !

We have put out probably 8 offers so far, and we got one accepted!

FMV, roughly $218,000, Got it under contract, $128,000!

We just got back from doing the inspection. Property is is FANTASTIC shape !

We have a 16 day inspection period. So I gotta start marketing this thing ASAP!

Bad news is its a short sale, the lady needs to leave town ASAP.... We are just waiting on the bank to approve it. Lets cross our fingers !!!

-SUPER psyched, Lewis & Sam

__________________

Doin DEALS !


question

Congratulations! How did you get around earnest money deposit with the real estate agent


earnest

chieduekwi wrote:
Congratulations! How did you get around earnest money deposit with the real estate agent

I ended up just scanning a check onto my computer. Than I just edited the check number and info in paint ! Worked FINE. I have to mail out the real check tommorrow :0)

The crazy thing about this house, it sold in 2005 for $318,000!

__________________

Doin DEALS !


first deal

Sweet!

__________________

In order to lead, you must first learn how to follow!


congrats

lewisthepilgrim wrote:
chieduekwi wrote:
Congratulations! How did you get around earnest money deposit with the real estate agent

I ended up just scanning a check onto my computer. Than I just edited the check number and info in paint ! Worked FINE. I have to mail out the real check tommorrow :0)

The crazy thing about this house, it sold in 2005 for $318,000!

can you please elaborate? why didn't you give the earnest money deposit up front and how did u find time to wait until you had to mail the real earnest money deposit check? thank you so much and congrats!


wat to go

I have a couple short sales accepted also. They do take a little longer but I just put them on the back burner and continue on. When I get the call that the offer is accepted by the bank than cool, another deal. On to the next deal!
Success to All!
John W.

__________________

John and Julie Wakefield
JCW Properties, LLC


Keeping Fingers and Toes Crossed

Hope everything happens soon. Congrats.

Sandra

__________________

"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.


PLEASE HELP!!!!

Im very down. I have been doing every single step and still didnt get the first deal. Having hard time finding great deals.

Any wholesalers out there to help me with some information???

Pleaseeeeeeeeeeeeeeeeeeeeee Helpppp
I really need this to work.

Thank you.


google

Is that your screen name? You should fill out your profile so everyone will know who you are.

Just wanted to say I have been a member since 2010 and I just got my first deal. Just keep studying and learning and moving forward. Soon you will find deals everywhere!

__________________

Everything works out in the end. If it hasn't worked out, it's not the end.

You have not lived a perfect day, unless you have done something for someone who will never be able to repay you. Ruth Smeltzer

It is what it is 'til you change it.


Ours too

This was our first offer accepted. Actually it was the first one we made! And we very well may have to back out of the contract. I have not give up hope yet but at the same time, not going to drown us either. We have learned so much just in the last week. Still keeping our fingers crossed. May have a buyer tomorrow...

__________________

"Those who believe they CAN do something, and those who believe they CAN'T are BOTH right." -- Henry Ford

"Always bear in mind that your own resolution to succeed is more important than any one thing." -- Abraham Lincoln

Website: http://www.5kholdings.webs.com
Facebook: http://www.facebook.com/5kHoldingsInvestmentGroup
LinkedIn: http://www.linkedin.com/pub/h-renee-williams/52/216/a04
Email: www.5kholdings.wf@****
twitter: @5kWf


earnest

AFAJARDO wrote:
lewisthepilgrim wrote:
chieduekwi wrote:
Congratulations! How did you get around earnest money deposit with the real estate agent

I ended up just scanning a check onto my computer. Than I just edited the check number and info in paint ! Worked FINE. I have to mail out the real check tommorrow :0)

The crazy thing about this house, it sold in 2005 for $318,000!

can you please elaborate? why didn't you give the earnest money deposit up front and how did u find time to wait until you had to mail the real earnest money deposit check? thank you so much and congrats!

I was driving myself nuts trying to find an "escrow" account that would work well with making multiple offers... I had no luck, it just seems there are no financial institutions that have our current mindset. So as per advice of another member, I just scanned a blank check onto my computer. Then I used MSpaint to fill in everything I needed for the earnest money deposit. I used $1,000 as It sounded like a nice round number. My REA just used this "picture" to email along with the P&S.

Now that its accepted, I need to actually send them a real check :0)

__________________

Doin DEALS !


offers

Moving forward wrote:
Kudos on locating that deal! Could you please tell us the details of how you found the deal What marketing did you employ etc the amount left on the note etc. When will we find out if the banks acepts your short offer? Is you agent handling the Short Sale transaction personally etc. How does the agents commision figure into the deal etc. Man I have so many questions. Please get back to us as soon as poss. as Im sure many others on this site are aching for some details.
Chris

My Real estate agent sends me spread sheets of properties that have at least 1 of my listing criteria; price reduced, vacant, fixer upper/handyman speacial, ALL priced in the STARTER HOME price ranger of the area. He scans them all in the MLS for keywords that would indicate a MOTIVATED SELLER. He then send them to me, all with at LEAST 3-6 comps.

My wife runs the math on them. She finds average price/square foot of the comps, and then multiplies it by the square footage of the house. This finds Fair market value of the current house. If the asking price is less than FMV, then we put in an offer ! If its not, we put it on the back page of our offer lists and submit those after we are all done with the first set of listings.

I'm honestly not sure how much is left on the note, or how long the bank will take. This is my first wholesale deal ! The bank will probably have a specific short sale person I will deal with, again not sure. My REA gets a cut of the sellers 6%, they usually split it 50/50. You don't have to pay your REA unless you are SELLING the house...but this must be accounted for when you make your offer because you(or your buyer) WILL have to sell the house !

I now am searching for a attorney/title company that can deal with everything in the double closing. I am also getting ready to market it !

__________________

Doin DEALS !


Syndicate content