All Forum Posts by: Tiffany Hayden

Thanks Joel. I am going to move on.

Ok, my realtor called the listing agent and he said these people are stubborn, don't have to move, and recently turned down a $115k cash offer :(

The house has been on the market for 28 days.

I just did a search on realtor.com for houses recently sold in that area. I found 4 in that neighborhood that have sold for more than 125k since Dec 2010. I think my realtor was wrong.

Should I still wait awhile before making another offer?

I am looking to purchase a house to live in. I found a house that I really like, but my realtor says they are asking too much. The house is listed at $128k. My realtor says that there haven't been any houses in that area that have sold for over $100k in the past year. This house is bigger than most in the neighborhood and has a very large lot. Most of the homes that have sold in the area have been short sales and foreclosures.

Anyway, we put in an offer for $95k and asked the seller to pay closing costs (I'm getting an fha loan and I'm allowed to request up to 6% in seller concessions). The sellers rejected the offer and aren't interested in countering.

I'm pretty sure they are ticked. Should I wait awhile before making another offer? Assuming the house actually appraises for enough, I am willing to pay up to their asking price, provided they pay for all of the closing costs.

Any thoughts?

The other day I made an offer on a REO and lost. I offered $17k more than the list price. I'm looking for a home to live in and I was REALLY disappointed. Since I've been stalking the house, I've noticed that there are 2 other empty homes nearby. When I look them up online, it says they are in pre foreclosure. Are there any opportunities for me here? I'm not sure where to go for more info.

Thanks Will. I am using a buyers agent. One of the advantages of homes listed with Homepath is that for the 1st 15 days, only owner occupents are allowed to bid. I'm guessing that the majority of owner occupents will also need to obtain a mortgage.

There is another house that I am interested in. It's listed as "back on the market". The sales price was just reduced by $5k. The asking price is $105k. It's been on Zillow (do any of you look at that?) for 242 days. The "zestimate" (what zillow thinks it's worth) is $144,500.

What type of offer would you make?

Aly, did you make a cash offer? I am at a disadvantage because I will be getting a mortgage.

Jon, you're right, but it's a little tough not to get attached when I'm looking for a place to live. REO's might not be the best choice for my situation.

Do you think it would have mattered if the original offer I made was for $70k? Do you think they still would have asked everyone to re-submit their "highest and best" offer even with an offer in hand for $17k more than list price?

I just don't get it. I'm looking at REO's for a place to live in. I'm in MI and real estate isn't booming here. I found a REO that I really liked listed for $53,200. This is a Homepath property so investors can't bid for the first 15 days. The day after this house is listed I put in an offer for the full price. The listing agent says there have been multiple offers and requests everyone to re-submit their "highest and best" offer. I really wanted the house, so I bumped up my offer to $70k. I just found out this morning that my offer wasn't the highest. The listing agent wouldn't say what the highest offer was. I'll have to wait until after closing to find out what the house sold for.

Damn, I'm really bummed and completely surprised. I thought everyone was bidding less than the REO price.