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Updated about 6 years ago,

User Stats

359
Posts
199
Votes
Michael G.
  • Wholesaler
  • Bay Shore, NY
199
Votes |
359
Posts

Take the offer off the table?

Michael G.
  • Wholesaler
  • Bay Shore, NY
Posted

Got an offer from a seller to buy her home in foreclosure. Seller mentioned on the phone that she wants 300K for the property. ARV looks to be around 725 k with 150k in repairs. We offer 300k but seller says she needs to contact the bank to get her payoff amount. This was Saturday. She said she would do it Monday. Text her on Monday she says the bank will have to send it to her by mail and it will take 5 days. I state that I've done it numerous times for people in situations like hers all I need is her authorization. I offer to call the loss mitigation dept on her behalf to get the payoff via phone and crickets...so my question is....is she stalling? Is she taking our fat juicy deal and shopping it to other buyers? Do I call her bluff and tell her the offer is only good for 24 hours? Any suggestions?

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