All Forum Posts by: Todd Harris

I have about 10 mortgage notes. All 1st lien and single family home residential, most are performing and a couple semi-performing. Wondering where is best place to sell this portfolio? 

See the various sites online but hard to know who will give best offer. Any advice is appreciated. Not looking to sell for low ball but wondering what value would be in then open market.

Let me clarify a couple of things.  My agent and the sellers agents both work with Keller Williams.  My agent says they are specifically trained on escalation clauses so I doubt seller agent was unfamiliar.  He did say it is possible she didn't see it but 100% she is familiar with process.  Also, I was using the $1000 escalation and I did not have any contigencies besides typical 5 day due diligence.  

Brian, that is very way possible about originially bid being higher and talking down.  I guess I will never know if that happened or not.  

The seller agent has a number of homes she sells in this area of town and that part makes me suspicious she was trying to get commission on both sides or worked out special deal with buyer.  Also, my agent says she is known to be somewhat sketchy.  From what I gather there a number of possibilities but I guess I will never know.  

I have been trying to buy a number of properties to flip or rent out in Atlanta.  On a couple of them the sale price has been lower than the one I offered.  I am doing all cash and 5 day due diligence and escalation clauses.  On one I offered 70K and escalation up to 82k and the house sold to someone else for 75k.  My agent said that he didn't trust the agent who was the sellers agent as they work in the same firm and she had a bit of a reputation as not being completely honest.  Is it legal for agents to take these lower offers?  Is there something I can do to prevent getting screwed like this?