All Forum Posts by: John Newhall

You can offer whatever you want. The listing agent has to present all offers. The worst they can say is no.

I've had a few where they thought the offer was so low that they refused to counter but that has been rare.

Bank owned can be a bit of a misnomer. The property may have gone through a sheriff's sale but is still in the redemption period. (This varies by state). 

Just speaking for MN the seller has 6 months, in an occupied property, to reclaim the property by paying the sheriff's sale amount. I've seen where the bank bid less than what they were owed and the auction price left room for a nice profit.

Congrats on the purchase. NE Mpls is a hot market and a duplex for $177,000 sounds like a deal.

One of the problems you will run into is when you go to buy or sell a property you have to declare that you are an agent. The MN Commerce Dept. assumes we're all out there to take advantage of the consumers.

We only call H&B if we truly have multiple offers. We will send out a teaser, when an offer comes in, that we have an offer and ask if their client is interested in writing?

Excellent post. I'm forwarding it on to a couple of my beginning rehabbers. 

Your email program should have a BCC (Blind copy) option.

Hi Jon

Welcome to the forum 

This is another group that I recently attended one of their meetings-

https://www.meetup.com/MinnesotaRealEstateClub/eve...

They had a very good speaker talk about how she got started.

They also serve good beer. :-)

Welcome Jason. 

I've had that happen to me where "helpful" neighbors come over while I'm showing a house with all sorts of negative comments. Some accurate and some BS where they might be trying to buy the property. But, I've also gone and knocked on a neighbors door to get info on REO properties with no disclosures.