All Forum Posts by: Carrie Cavins

I made my first offer!! Now wait and see!

@Rachel H. I emailed my first offer! I feel good about my analysis, my offer, and my letter! I think I'm more excited that I took that first step to making a path. I used SO much advice from people that responded to my questions that I should of been singing in my head "We are Family.."!!

It will be a few days for any update!!!!!

Thank you

When and where?

Erich Beyer I am very excited about this deal and have been actively looking for 6 months. My question is, do I change/lower my offer because I know the balanced owed or do I keep my offer the same? I have seen on BP that people make their offer based on formulas and stick to that number.. Does it change if there is no mortgage or finding out what I did? Thank you

Steve Vaughan thank you for your input. The home is NOT on its own land, so does that change my offer price? Also, I'm curious so I can think from different angles in the future, how did you come to these figures? And why such a big difference between cash and owner finance? I have never written or seen an LOI, is there a place to find an example letter?

John Arendsen

John Arendsen Neal Collins I need to clarify, I had planned on trying to offer cash using comps and 70% rule, which would have been $42000. Now I know that they owe $20k and property is worth $55k, how do I proceed forward and not burn/lose this deal? There have been no other offers and they don't want to rent it out. My personal end goal is to do rent to own instead of renting, AFTER the property is purchased.

I found a property listed at 60,000 (and worth close to that price) and spoke with the owners and found out they owe 20,000 and are selling it due to a death of a family member. They just want to move forward in life. The property is valued for around 55,000 and I am thinking to do owner financing for a rent to own property. What do I offer knowing the balanced owed and what the circumstance is. What do I say? How do I offer multiple options to help them? Thank you!

I found a property listed at 60,000 (and worth close to that price) and spoke with the owners and found out they owe 20,000 and are selling it due to a death of a family member. They just want to move forward in life. The property is valued for around 55,000 and I am thinking to do owner financing for a rent to own property. What do I offer knowing the balanced owed and what the circumstance is. What do I say? How do I offer multiple options to help them? Thank you