All Forum Posts by: April G

Its not in writing, they are just being told that the bank wont accept such a lowball offer. It is low, but its probably approximately 55% of what is owed. The price is now lowered to what the owner owes the bank. Low, but house needs lots of work too. It will cost a lot to upgrade everything.

Thanks Chris. In this instance it is listed and the price has been dropped- again. There have been no offers except this one. This realtor wont get any commission if there are no other offers in the next 2 weeks when the banks will foreclose. Its not my offer, its someone who is trying to get on their feet again in this market. They are having problems with this realtor that wont take an offer

If you are doing a short sale can you write the check out to the seller if a title company isnt involved yet? If you have a good repore with the seller of course....contractually protected too...

Also why does a Realtor refuse to accept a low offer? Arent they legally supposed to offer every offer that comes across to the bank especially when it is a pre-foreclosure?? Shouldnt the bank decide what they will and wont accept??

Is it really a necessity to offer any earnest money if you are dealing directly with the bank? Who would hold the earnest money if there is no Realtor involved?

Last year I had yellow wasps make a home inside my wall behind the fireplace. I had to have an exterminator come back twice to get rid of them. The wasps were still coming into my house through small cracks between the fireplace bricks and the drywall. I was getting about 60 a day in the house! the entry was filled with steel wool by the exterminator, and I caulked all the cracks and put on the fireplace in the summer time to try to smoke them dead. I got rid of the problem, but wondering what is behind my wall. Do wasps make honey? They are the small yellow ones that I first though were hornets. I am not up on species of any of these. I am wondering what a mess and how many dead soldiers I have behind my walls!!!

With 16 pages on this, lots of unnecessary stuff. But line 144 what is the difference between "Due on Transfer-Strict" and "Due on Transfer-Creditworthy"? And as an investor which one is better for me?

Also line 57 it asks if Buyer will/will not provide a mortgagees title insurance policy. Since its a cash deal, do I just say 'will not' ??

Any other hints for me to cover my butt???

Thanks in advance all!!

Thanks! Appraiser is coming today. Thanks for the calculation, it helps a lot!

I will have a friend there with the appraiser to help to get it on the lower end. The trick will be trying to make some money on a flip with this thing if they wont go much lower than 82%. Thanks for your help!!

HSBC is sending an appraiser. I am guesstimating that its worth about 145,000. He owes around 160,000. Its on a canal in Galveston and was affected by the hurricane. He did fix the damage but deck has shifted due to Ike, and needs a quote to fix it. Kitchen is new, mostly other fixes are cosmetic - carpet, paint, few holes.