Pissed Off, Bidding War. Help

[Joseph Tarallo]

I am currently trying to purchase a fully occupied investment property with the lease effective until 2015, 2 family dwelling. You can only purchase a investment property that is 2 family in the state of NJ with a minimum of 25% down. The reason I am furious is because I am in a bidding war against someone else who is only putting down 5%! I keep upping my offers when I feel like I shouldn't have to. This deal is a bankruptcy so I guess the trustee is not aware of the rules or he just doesn't care. I'm assuming the other purchaser is buying as a primary residence which is why he's getting a mortgage with 5% down.