Kalyn everyone wants cosmetic properties.You will find regular home buyers do not have to resell and will accept way less of an equity position and pay a higher price to get a home cheap with a low monthly payment.Their goals are totally different than a rehabber.This is why a bunch of success is taking on properties where a home buyer is not a competitor but it drives down the price with the property not being loan ready.If your offer of cash is just slightly lower than a finance home buyer the asset manager might still choose you.If there is a wide difference the asset manager might take a shot with the finance home buyer to net more.It depends on a bunch of factors which is being at the right place at the right time.You also have to understand local,regional,and national banks make decisions in different ways.Kayln are you offering to let the listing broker keep all the commission are are you getting greedy and asking for the co-op??

A lot of the issues at underwriting are "complex," because the underwriters themselves are not very versed with how to review financial statements either they use "self employment income evaluation," methods designed from Fannie Mae which help in determining risk analysis but to objectively know how to read the statements like a finance professional thats a different story as most loan officers are not finance professionals.

A final comparison, typically a foreclosure defense attorney is going to charge a little more than $2,500 for his time and effort.

One of the tenants was a real jerk when we did a final walkthrough, and I have witnessed on several occasions that there are two people living in the apartment and 1 small dog, although the lease states an occupancy of 1 with NO dog.I don't want an immediate problem, and would prefer to avoid immediately having to deal with an eviction.

Great topicFirst- I don't recommend zillow or any of the other sites as a Final value.

What they mean to say is that their guidelines are so nonsensical that even their own underwriters don't know they exist - as evidenced by the fact that my file went through 2 reviews of underwriting plus a final round to get me to final conditions (3 reviews) and none of them had said this was an issue.

It's taken about a year, but I just got word that I should receive a final determination in a couple weeks, and it should be favorable (fingers crossed), meaning any future ruling the IRS or DOL makes on these types of retirement products in the future can't come back to hurt me.Fun fact: If you flagrantly violate ERISA laws with how you use your retirement funds, the penalty from the IRS/DOL can be loss of your entire retirement portfolio PLUS 10% or more excise penalty that you'd have to pay out of pocket.

I get investors all the time looking for a property with just carpet and paint that want to pick it up for less than list price.The problem is that so do home buyers.They do not have to make the spread for a flip or hit certain numbers for cash flow.If the home buyer puts in carpet and paint and only picks up 5k to 10k equity with current market values they are happy.So to recap all things being equal many asset managers will take a chance on a finance buyer if it nets them much more.The asset manager might be telling the listing broker to work the finance offers to get to close and achieve a higher net.If the property needs considerable work that generally weeds out the home buyers as they can't get financing.

They will give you a scope of work and a final checkout sheet with all the final moisture measurements taken.

Sounds like your agent want to CYA, understandably, since any deficiency that might be seen and is not disclosed, you can hold them responsible, a final walk through protects the agent from last minute issues as it's your decission to buy.