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All Forum Posts by: Pamela LEE

Pamela LEE has started 3 posts and replied 19 times.

Post: Lost 1st REO for Mom...Take 2...What to offer ?

Pamela LEEPosted
  • Investor
  • LINCOLN, AL
  • Posts 21
  • Votes 1

If anyone is still out there willing to once again give me great advice, then please chime in.  Found another property, it is owned by a small bank, and they are quick to respond to me. Yay !!!! There are no offers on the property. They asked me to submit an offer and they would see if they can accept it. It needs alot of work. Visually, roof, water damage on wood floors. My question is what should I be estimating for repairs, and looking for besides what I can see ? What should I offer under their asking price ? I realize you guys can't give me specific answers or numbers, but if you can just guide me to percentages off or something like that, it would help. Is there an analysis tool you can recommend to do this with  ? 

Post: REO Agent Won't Respond.....Options ?

Pamela LEEPosted
  • Investor
  • LINCOLN, AL
  • Posts 21
  • Votes 1

I was advised to call the broker by the newest agent, because she was said to be easy to work with. She listened to my story of problems getting in touch with her agent and what he said to me when I did talk to him the 2 times, and listened to every word. She said she would find out what was going on. She said it was still active, there were no offers on the property now and they did accept financing with pre-approved letter, and copy of earnest deposit. 

She called back and said the agent said it was cash only and they accepted an offer a week ago, and they were waiting for the paperwork to go through. OK, so this was what I thought would happen. She is taking up for him. I said why is it not pending online then ? She said she asked that, and he said he was waiting for paperwork. 

If ResNet has it available, is it?

I dont believe any of this. It's all a bad dream !!!! She never said she was sorry on behalf of her agency, or that she spoke with him about his behavior. 

I requested proof of this from the seller and asked her to call them directly. 

She changed the subject, and wanted to know what I was looking for......

This is a crazy world !!!!

Post: REO Agent Won't Respond.....Options ?

Pamela LEEPosted
  • Investor
  • LINCOLN, AL
  • Posts 21
  • Votes 1

I was simply giving everyone an update on what was going on so far, because everyone has been so super nice to give me advice. I really appreciate each and every one sharing your wisdom and expertise with me. Hoping it will work out. Will let you know.

Post: REO Agent Won't Respond.....Options ?

Pamela LEEPosted
  • Investor
  • LINCOLN, AL
  • Posts 21
  • Votes 1

OK, so I have detached myself somewhat from this process, got someone looking into it for me, and going to try for last highest offer they countered with and hope for the best.

The listing agent in question has been notoriously scooted from one agency to another, and "has his own way of doing things," and everyone knows he's difficult to do anything with.

In my opinion, if he represents the broker, he should be accountable for his actions, or lack thereof, because it reflects back on them, hence all the shuffling around part.

I was told the broker owns the listing, not the agent. Is that correct ?

Post: REO Agent Won't Respond.....Options ?

Pamela LEEPosted
  • Investor
  • LINCOLN, AL
  • Posts 21
  • Votes 1

OK, yes he is on my radar, and needs to answer for this chaos, but want to get the house first, then he can pay the piper.

So what, call the seller, the agency, put in another bid, what ?

Post: REO Agent Won't Respond.....Options ?

Pamela LEEPosted
  • Investor
  • LINCOLN, AL
  • Posts 21
  • Votes 1

I thought I was making a counter offer to what they asked for. Maybe the realtor kicked it out of play. I was willing to go up higher. Didn't get any advice on what best to do. In the past, got one shot at highest and best and it was a done deal. This time it's just been nuts.

Do I re-offer in my Mom's name ? Give them  list price ? Ready to get this thing done. If I could change my agent right now, I'd go with one of you guys/girls !!!!!

Sorry to be such a bother.

Post: REO Agent Won't Respond.....Options ?

Pamela LEEPosted
  • Investor
  • LINCOLN, AL
  • Posts 21
  • Votes 1

In case you're wondering why I just won't give up, and where this "fortitude" comes from (thanks Ola)....where Mom is living now has become unsafe for her. Somebody broke in her window while she was standing inside the house watching the curtain move. I guess they sensed her or heard the TV or something and left, but they came back and stole her lawn mower. Mom is not the scardy cat type, but it freaks me out !!!! Thank God they left and my Mom was not hurt, but I want her safe.

This house in question is up on a hill and private, and you can't even see the house unless you drive up the windy driveway. 

She's independent and I want to help her stay that way.

Post: REO Agent Won't Respond.....Options ?

Pamela LEEPosted
  • Investor
  • LINCOLN, AL
  • Posts 21
  • Votes 1

You have all rallied around me to give me some great suggestions on how to handle this situation.  I am trying my best to listen and apply your wisdom.

I dont think it's a coincidence that this listing agent is so difficult to reach. Like Steve said, he doesn't have any incentive. In my case, it actually works in our favor, because nobody else can reach him too, so we are clear to have a shot at it. What are the odds of that ?

As the saying goes, location, location, location.....and Mom loves this place. I can not give up on it. If we can't get it, then so be it, but until then, I am going to try....for her. Obstacles do not phase me, I just keep trying other ways around them.

If you were all my agents right now, what would be your plan of action ? Make a full price offer, cash, and quick closing ? What about the name, put the offer in a different name ? If it goes through ResNet, it still gets to the seller, and the listing agent has no say in it, or could they have given him that responsibility ?

As a side note, the current realtor has sent me really bad pictures of the house as if she is trying to make me change my mind about putting an offer on it, so I think she wants it. I dont know why else she would be so personal about it. One more obstacle to jump over. If I have her put an offer in on it, and she tries to buy it herself, how will I ever know ? It was said, she couldn't do that, or get in trouble, but lots of people involved with this seem to not be following the rules.

Let's turn this thing around, and bring in a victory.....for Mom !!!! I know we can do it !!!!

Post: REO Agent Won't Respond.....Options ?

Pamela LEEPosted
  • Investor
  • LINCOLN, AL
  • Posts 21
  • Votes 1

Mom likes the land and the house. It reminds her of growing up 

"back in a holler."

(In reference to people back then having to holler to each other, because you were way back in the woods.)

Post: REO Agent Won't Respond.....Options ?

Pamela LEEPosted
  • Investor
  • LINCOLN, AL
  • Posts 21
  • Votes 1

Just a few thousand off list, so are they waiting for list price  ?  Keep putting in offers until I get some feedback ? The last buyer's agent never did hear back from the listing agent, so we dont need to worry about that ? How will we get word, if he wont respond to us ?