Homepath offers rejected with no counter

[Maria Marrero]

What kind of experiences have u guys had with buying a bank owned property through homepath? I made 2 offers n both got rejected with no counter. The agent is not really helpful at all (he didn't even know the first look period had already expired) I'm trying to find out more about this because I really want two of the properties listed but they need A LOT of work n I feel asking price is high considering. These would be rental properties. TIA Maria 😀

[Mindy Jensen]

@Maria Marrero , I bought a Homepath foreclosure that I intended to flip. I have decided this is my forever home, but one thing that won me the home is that I was an owner occupant. (I had to be for my mortgage.) 

Is there any way for you to live in one of the properties for a year? Truly live there, not just say you're going to live there. It's mortgage fraud which is a felony if you say you'll live there and do not.

If your current agent is not familiar with the homepath process, find one who is. That could very well be the difference that gets you the property.

Also, stick to your numbers. It is far better to lose a property to a higher bidder, than to pay too much and make no money when you sell. Someone might be willing to pay more for the property than you will. Let them. Eraser math never works in your favor.