All Forum Posts by: Da Deep

I'm going to look at a new house that's not finished. The basic structure is up but drywalling and interior is yet to commence. The builder is open to selling AS-IS or after completely finishing or in-between.

What's my best option? Should I have the builder finish the house to my choice of material? Should I buy AS-IS, then get it done myself by a 3rd party? What tools/sites can i use to assess what the interior will cost me? kitchen/flooring/fixtures/etc?

TIA, Dave

Originally posted by Jon Holdman:

No. Until the auction, the owner still owns it. The auction is the point where someone elses, often the foreclosing lender, takes possession. . Even that doesn't mean you can get in. You may have to evict the previous owner.

Thanks. I'm going to try to talk to the owner. Let's hope he doesn't have a shotgun when I ring his doorbell.

Originally posted by Michael Shadow:

Get a new Realtor. My main reason for saying this is that she is not bringing you what you asked her to bring. She should also not be balking at offers that are 80%. I don't know if I've ever placed an offer at 80% asking price. Mine are typically 50-60% when it's a property that is on the MLS.

-Michael

wait, i'm talking about private homes, not commercial property. If some home owner lists his house at 750k, you go in with a 350-400k offer? That sounds too low. I want to go in at 80% but my agent wants me to go in at 95%. secondly, i'm getting irritated at time wasted from going to many properties that have NO appeal to me.

How do I get rid of her? Just tell her it's not working out for the aforementioned reasons?

Originally posted by David Peeples:

At the chance of sounding like a jerk, these are kind of basic questions to be asking when buying a million dollar commercial property.

No?

There are all kinds of investors, so what applies to you may or may not apply to the next guy. There are plenty of people who know how to MAKE money but are quite clueless about managing it or investing it. Doctors are a case in point.

I called the attorney listed on the sheriff's sale doc. They told me to try to work out something directly with the owner of the house because "the bank can do nothing until the house goes to auction and gets sold". I don't get it. I thought the house can only go to auction once the bank owns it..?

I have listed two motorcycles and a car on CL. All three sold for asking price to the first buyer who came to see them. Yes, bikes and cars are very different from houses but I'm upbeat about CL. The dealer was giving me $1500 (trade in) for my car. I sold it on CL for $5750.

So I'm in the market for a house. In the current climate, I would think it is a buyers' market and sales are soft. My realtor wants me to believe otherwise. She tells me she's busy as ever, homes are selling left right and center. When she shows me homes, she tells me to make an offer that's about 95% of the asking price, when I'm inclined to make an 80-85% offer. Lastly, I've told her TWO preferences to check when showing me homes and she often does not. There are times when I walk in the main door, then walk right out because the property has zero appeal to me since it does not conform to the two preferences I have.

Because she wants me to make offers that are ~95% of asking price, I haven't made a single offer yet.

Should I change my realtor or am I expecting too much?

thanks, Dave

Jason, What incentive would the home owner have, in talking to me, one month before his house goes up for auction? Would he not hope that the house doesn't sell, so he can continue squatting? Secondly, even if I'm able to work something out with the owner, how do I get the house OFF the auction block so quickly?

Sorry, I'm quite new at this. I own a home, have rented it out, and now I'm looking to purchase a house to live in, and another home as a rental property. THIS one is going to be the rental property. Have zero experience with foreclosures/short sales/auctions, so any help is appreciated.

TIA

thanks Jon. I'll first try knocking on their door *before* the auction to see if I can work out any deal directly with the people living in the property.

Hi, thought I'll bump this up since I have questions of my own.

Assuming I'm able to purchase a property at a Sheriff's Auction in a situation where the current owner/tenant is living in the property....how do I evict them after I've won the auction? What's stopping them from trashing the place before moving out?

I'm new at this game, so have plenty to learn....

TIA