All Forum Posts by: Account Closed

We own two houses in Seattle and have been considering either remodeling one or doing a tear down/building new construction of the other. OR we have been looking at purchasing an investment property in an area outside of Seattle, Whidbey Island, to run as a vacation rental. Would be interested in what members thought was the better route to take as far as investing our money in real estate: remodel/new construction OR investment property?

Again, thank you Mark for your input.

After much thought, I am going to take the "sit back and watch" approach but your input about tortious interference sealed the deal.

We shall see what develops!

We actually offered all cash. The bank accepted financing over cash because they were just a hair above us in their offer.

Hello Mark:

Thank you for your response. We originally worked with one of the agents connected with the bank and have developed a relationship with him even though I signed off with him and signed on with another agent to bid on the property.

My quandry is whether to chat with the agent who represents the bank about this activity. I would like to let him know (although as you say, he may have approved the other buyer to do this) and say that we know that this is taking place, if they are interested in dealing with it, then they need to verify this information themselves (maybe take a look at the property and see what changes have taken place) but we want to stay out of it because they could be our new neighbors. We obviously have a vested interest in what happens with this property because we would like to bid on it again.

As far as "fixing up someone else's house for free," they are not doing anyone any favors. Our opinion is that it is a tear down. This other buyer is planning on fixing a manufactured home and living in it when pretty much everyone who has seen it believes that it should be condemned.

Any other thoughts would be greatly appreciated!

Hello:

Hello:

My husband and I were outbidded on a bank owned home that is next door to us.

The other buyer whose offer was accepted was at the house "working" on it to prepare for the bank appraiser who is coming this week so that they would have a better chance of securing financing on a very distressed home.

I emailed my agent about this and he said that if the bank or listing agent knew that this was happening, that there "would be hell to pay."
Since it is possible that they will secure financing to buy the house and potentially be our new neighbors, we do not want to make waves with them even though we are very upset that they outbid us. If the deal does not go through for this other buyer and the property comes back on the market, we are planning on bidding on it again,

If anyone can tell us if this is in fact inappropriate what the other buyer is doing and anyone has any suggestions on how to handle this diplomatically, it would be greatly appreciated.

Thank you in advance!