All Forum Posts by: Adam Sechrist

I love Bigger Pockets! I never would've thought of an escalation clause, @Account Closed seconded the motion (with further insight/detail), I'll have it at the ready. So thank you, too!

@Michael Plante I did not go through the listing agent. What are some of your reasons for recommending that? But I do like your proposal. Thanks!

@Wayne Brooks Thanks very much. This is not REO, but an estate sale listed on MLS.

@Thomas S. I certainly don't want a bidding war. Thank you for the advice.

@Paul Bowers The offer is all cash, but I did ask for an inspection. I'll make sure my realtor emphasizes my ability to close quickly, though. Thank you!

@Brian Pulaski You made some really good points. Thanks for that. It hasn't been listed for very long--12 days--and we are trying to flip it.

In the end, I think I will up my offer because I'd rather have a (little less of a) good deal than no deal. Fingers crossed!

I put my first offer in on Friday afternoon. Finally heard back from my realtor last night that the sellers received a competing offer over the weekend. According to my numbers, I still have about $5,000 wiggle room to make the deal worthwhile, but I can't shake the feeling that I may be negotiating against myself. Do I up my offer? Or stand pat?

Thank you, @Account Closed. Sorry I didn't reply sooner; been a crazy busy couple of days. I did go ahead and ask for the inspection contingency on Friday when the offer officially went in. I really appreciate your input.

I just made my first offer. So excited. My realtor is asking if I want an inspection stipulation in the offer. Since we will be fixing and flipping, is this necessary or recommended? Just want this to go as quickly as possible. Thanks!

@Tom W. very good insight. Thanks!

@Ray Johnson interesting. Seems like it's not as quick as working directly with a person, but I suppose it's what we should expect when dealing directly with the bank. Thank you very much!

Thanks, @David Dachtera! I'll relay the advice. 

My partners and I are going to be making some offers on some REO properties this week. Some of my partners have the bulk of their available funds tied up in a 401(k) right now. When paying cash, how long does the closing process take? Should they have their money out ASAP or do they have some breathing room?

Awesome! Thanks, Mike Jones ! I'll definitely add these to my list.