All Forum Posts by: Robbie Case

I think the best path is the one I've been avoiding. Reach out to the realtor, explain that I'd be willing to take lower offers if it means closing quickly, ask if she minds me posting the listing here with language reflecting that. 

Quote from @Charlie MacPherson:

Former Realtor here.  If I had an exclusive listing for your property and you wanted to do additional marketing, I'd be thrilled.  Go for it - you might just be making my job easier.

Just don't try to cut a deal behind your agent's back.  Not cool.

I wouldn't think of it. I've got enough stress without worrying about bad karma! The part I am unsure of is if its ethical for me as the homeowner to say "Hey, I'll take any offer for this place" since it could likely cut into the Realtors expected commission. I don't want to short anyone, especially around Christmas when that commission may be used to buy gifts for kids and family..  I also don't want to wait another 2 months when I would accept much lower than asking price and could use that money for the same reasons. (My first child is 9 months old next week) 

Quote from @Eliott Elias:

If retail buyers aren't looking at it BP buyers definitely aren't. 

 That's part of the reason I wanted to put it on BP marketplace. To stress my need to sell amongst a pool of investors that may want to make an offer. The agent listed the property much higher than I expected to receive, which I was fine with at the time, but it's been on the market so long that I really only care to get rid of it. (read: lowball offers welcome at this point)

I have a property listed with an agent. I was considering putting that listing in the BP marketplace as well with additional language expressing my urgency to sell the place. I stopped because I'm not sure if that's acceptable. I'm not an agent, so I don't know what would/wouldn't tick an agent off. I am seeking some direction. Is that a no-no? 

@Dave Skow 

Yes sir, thankfully we are pre approved and going through the application (underwriting?) process now. Meaning, all of the requested documentation has been submitted to the lender and they are working on their side of it. I understand we aren't out of the woods just yet, so I'm still on edge. I've done several deals in the past but they have been spread across the years, so I still get anxious up until closing day. Imposter syndrome maybe? 

I must say, this has been a roller coaster. My wife and I welcomed our first child into the world on the 19th, so there has been a lot of juggling going on! If all goes well we'll have a solid foundation to cushion us from life's unexpected events. 

@Jared Rine Thankfully we found a lender willing to work with us and we're working through the application process now. We've spoken to 6 lenders so far that said it was a little too rural for them. Hopefully everything goes smoothly from here. Thankfully they were able to pre-approve and issue a us POF letter, which led to an executed contract.

Thanks for the response, J.

I'm concerned about the amount of time it might take for underwriting. I feel like a bridge debt is what we are really looking for, higher interest rate in exchange for the increased risk of a quick loan agreement. We just want something to get the property secured, then we have more time for the underwriting process to refi. (I'm sure my ignorance is glaring right now) The few hard money lenders we've spoken with say its too rural for them to lend on. This is a little disheartening, I feel like most areas are rural until they're not (e.g., 37 acre mixed use development; $129 million dollar event center; $76.5 million dollar lane widening are all currently under construction in this rural area as well as a 4700 acre master planned community in the planning stages). 

Someone wants to lend on this deal, we just have to find them! Honestly, this is the exciting part for me.  

Neighbor to one of my rentals listed their property last week. The cutoff to submit offer was today, so didn't have time to secure financing prior. I have one partner that will cover 25%. We only gave ourselves a few days for option period, so now I'm hustling to find a lender as most all of my equity is tied up in rentals.  Any guidance appreciated! 

@Wayne Brooks I hadn’t thought of donating to a charity. Thanks for the idea!