All Forum Posts by: Sesha Bhojanapalli

Hi everyone

My realtor sent me a bank owned property. I did the comp analysis and found that the property was still listed over the comps in the area.

1) Can I negotiate the bank owned properties and what would be a good ball park negotiation with the banks?

2) If I am able to pay full cash would banks agree to be able to negotiate further?

May be weird and hypothetical questions, but I want to make sure I am putting my best foot forward when I put the offer.

Thanks

Hi Everyone,

I found a brand new build property; Its will be ready next year march. But I found the property thru a broker and they are charging me a broker fee of $6500 and they are also asking me to pay an earnest deposit of 5K to block the property. Its a duplex costing around $350K and with good chance of value increase. To do or not to do? I know about the earnest cost but the broker fee to be paid by the client seems a lot.....is the amount a lot or is this industry standard?

Thank you Andy and Ronald. You guys rock!

Hi, I am a newbie; I have saved 150K and want to invest. Please let me know if my steps would work:

1) I get investment properties (with 20 or 25% downpayment) and then I get a FHA loan on a fourplex property (next year) and stay in one of them (this will be property in the state where I live - NJ) --- main question - will I get a FHA loan (assuming I meet all the criteria and have saved up 3.5%) if I have investment properties bought just a year or so early?