All Forum Posts by: Geoffrey Jones

I just called the realtor and I guess the seller put the subject to offer there even though I offered a cash offer. 

Since I know the owner is interested in a Subject to deal I think I may go this route with the purchase price being 180,000 since this is what they owe.

Question now is how do I deal with the realtor. Can I negotiate the realtor fee? I don't want to pay 3-6% for a sub to deal that's for sure. But more along the lines of 500 - 1000.

Am I being reasonable here. Let me know what you think.

Its on a FAR BAR Contract provided by me.

Also contract states in section II

Purchase Price: 160,000

Payment
Other: Buyer to take over reminder of loan and payoff costs to close free and clear.
Balance to close by cash, wire transfer or LOCAL DRAWN cashiers or official bank checks, subject to adjustments or prorations .......................___________Balance                              

The property is listed on MLS by the sellers agent for 200000.

The Sellers Agent has sent me back a signed P&S agreement with a subject to clause and a purchase price of 160000. I do not have a buyers agent but they are using my P&S contracts.

The property is in Orlando FL and I have triple checked the comps and it seems to be solid. Owners motivation is that they need to relocate ASAP.

Owner wants to get out of subject property.

• Owner signs a P&S agreement with me for 160,000 but is still flexible on price
• Owner owes 181,000 to his mortgage.
• Property is worth 210,000 ARV I have 3 comps in the same neighborhood showing this.
• Property is listed with an agent off the MLS
• Willing to do a Subject to

Not sure what to do in this case. Should I buy the property subject to existing mortgage. If so what do I do about the realtors fee.

Is there any way to buy the property a lower price than the mortgage. If so how can I get the lender to forgive the amount deficit.

Owner does not seem to be distressed as he is not late with any payments on his mortgage so I'm not sure a short-sale would work. I may be wrong.

Please help this fellow investor out.

Will definitely be there. Looking forward to meeting you all.

Will definitely be there.

Wow. that gets me motivated to start buying up more properties fast. Here I go!

Sorry I'm late, but I love the new look!

I am interested in this property. Please send me more information. Thanks.

I'm definitely interested in prince Georges County and surrounding areas as I own property there now.