All Forum Posts by: H. M.

Can't an offer be changed if it hasn't been accepted yet?

What's the protocal for lowering your offer if the comps come in lower?

I was waiting for acceptance when they ordered a 2nd. So, that's not uncommon, ok.

So, since they haven't officially accepted my offer, this means that I can withdraw, change the offer price or add language, etc. Is that your understanding?

So, when the negotiator says-"this investor will accept a minimum of 85% only"- what is she really saying?

Thanks Dan, that was just what I was looking for.

How or when do we negotiate for the shortfall to be forgiven or charged off for the benefit of the seller?

When the offer was made, the lender ordered an appraisal. The lender countered with a net of 85% of the appraised value. I made 3 counter offers but, they wouldn't budge from the 85% net.

In order to postpone the foreclosure, I accepted their net. Now they've ordered a second bpo!

I thought we were done when I accepted their net. Thought all I had left to do was to finish negotiating with the 2nd mtg.

Any advice?

I want to thank all of you for sharing your experiences, this is a great forum.

My experience has been just the opposite, local rei's seem very closed mouth about what they do.

I have already found a lot of useful stuff here. And I do intend to search the forum further regarding transaction funds and investor friendly title companies. I'm in an attorney state, but the re attorneys I have spoken to are unfamiliar with back to back closings.

HM

I'm convinced, it's better to disclose in the A that it will be re-sold and in the C that it is contingent upon an approved short sale

I am still unsure...about the back to back 1 day closing using transactional funding, is it do-able or not? Some say yes others no.

HM

I couldn't agree more! This should be your #1 priority.

Good luck getting any monies owed you ie. sec. deposits or rent paid. Yes, it is a crime to steal money-but, even if they were tracked down and you were awarded restitution, it would still be up to you to collect. It's impossible to get blood from a rock.

Try to get a warm lead on your next PM from someone who is satisfied with whoever they are using.

HM

Thanks Justin, sounds like I would either have to ignore FHA end buyers or have a hard money source lined up.

Am I understanding this right?

HM

PS New to this, don't know how to capture lines from your replies yet.

Thanks Scott for your quick reply.

As stated, I'm all for full disclosure.

Regarding the seasoning issue, are you saying that 1 day transactional funding wouldn't work here?