Dont count your chickens too soon....

[Matt A.]

6 weeks ago we put an offer on a quad near us, roughly 100 year old property in surprisingly decent shape (where I invest 100 year old's are the norm). I had finally gotten an agent to get me inside to take a look and I put together a quick estimation of a budget. All said around 60k in work needing to be done immediately.

Our offer went in, then silence... couldn't get a return call for almost a week (I make my offers 72 hours then expire). Finally was told that the seller accepted a verbal offer (this one is also an estate, so lots of parties involved). Several weeks went by and I asked my agent to follow up (another long story, but the net is I fired that agent). After having a new agent re-submit essentially the exact same offer, we were contacted that it had been accepted! FANTASTIC.... BUT, I need the signed contract (details). After 3 days of asking we come to find that a VERY similar offer was made yesterday but all cash - and they want to take that one. Hell, I can and will pay cash for this (and close soon as I can verify liens... but 'interestingly' never got the opportunity to do so.

So, form finding and supposedly getting a great deal - Im back to looking for the next.... Arg!

[Jay Hinrichs]

Matt,, lesson learned I guess on that one.. you need to play your market to the market conditions.. sounds like a fluke deal .... NEXT