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Updated almost 12 years ago on . Most recent reply

User Stats

29
Posts
8
Votes
Jackie Pyle
  • Real Estate Investor
  • Rockaway Beach, MO
8
Votes |
29
Posts

According to certain banks I am not allowed to make a profit!

Jackie Pyle
  • Real Estate Investor
  • Rockaway Beach, MO
Posted

You read the title right! Closing scheduled today on a very reasonably priced 3 Bed 2 Bath, we owned more than 6 months, buyers had great credit AND a down payment, and YESTERDAY the buyers bank, W* F*, tells our client that since we would not disclose OUR purchase price they won't close. Then went on further to say that we were not ALLOWED to make a profit. Ok, to begin with, I don't know about the rest of you guys, but here in Missouri our profits are not 100k per house like on TV. Not even close! But not that it's any of the buyers or their banks business. Oh, and by the way, do they make a profit on the loan? It's like asking the ditch digger to dig the ditch for free! And they had this issue a week ago and killed the deal just yesterday. All I can say is I feel sorry for the fella who made the comment at that bank that we were not ALLOWED to make any profit on our houses because he will be stuck in that miserable job or one just like it for the rest of his miserable little life. Sorry for the rant fellow investors but ya know sometimes.... Sheesh

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