OfflineHello...
I posted back on October 8, 2009 that I had a possible deal. It had just hit on Homesteps.com. I called on it and went to see it the next day. I had an offer in right away. The realtor told me that they had to put it on realtor.com for a few days to make it fair for everyone to see. I have called on it every few days. They pulled it off realtor.com after six days. According to what I am hearing we now have four offers including mine. They have emailed me a form now for what they call "Highest & Best Offer" which gives me ONE CHANCE to raise my offer and the government will take the best offer. Has anyone heard of this before? It is a government loan Fannie Mae so I guess I would expect that it had to be complicated and not run smoothly. Any suggestions on raising my offer. It is a triplex and a steal at $41,000 which is what they were asking when I made my offer. How much or what percent more should I offer??? Tom S.
It happens when you have multiple offers on single property. Its your choice, you can play the game and bid it all or you can walk away. Look at what similar triplex properties (ARV) have sold for. Determine what you're willing to pay (MAO--maximum allowable offer) to get the property. Also consider what your intentions with this property are. Do you plan to hold for positive cash flow, rehab and sale or flip (via assignment) immediately to another investor. You can write up your offer where you make you offer $xxx more than the highest offer. Hopefully the seller will accept your offer over what the other bidders submit for their prospective offer(s).
"I will NOT BE BROKE! ANYMORE!"
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Anyone in delaware wanna share ideas with me in real estate, You are most welcome;
i am so alone and i need people we can talk and see if we can invest in real estate so if you are willing shoot me an email at deans graziosi.com
thankyou
STARKS.
starksinc09