represents to the seller, A ' cream-puff " something that
anybody can see value in is to be treated differently than
a distressed property-not ready to move into or in an inferior
location ,poor lay-out,etc.
The Asking Price is just "what the seller is asking" fair?, reasonable?
maybe-maybe -not. On the REO side HUD and Homepath both
are Sellers-no more,no less!
Time on the market is everything! In our market .listings with
good features go for better than asking! Many times only because
of " bidding fever ".but avantages of financing terms and incentives
may allow for "prudent" bidding -up Others sit-due to negative site
or condition specifics. These listings are " marked-down " periodically.
Longer the time- more incentive for them to move. But these listings
also sell close to the reduced price!- it's watch ,wait ,move.
Close following of Homepath.com website is recomended ,as well
as contact with an agent registered to submit Bids This allows
you to move when "its Right" Most importantly: you can't consider
buying what you haven't looked at ! "Leg-Work " recquired!
Bob Brubaker Highlight Realty Palm Beach County Fl, 561-876-6649
La Rosa Realty
La Rosa Realty
Bidding strategies these days are whoever offers the highest price, that's the 2013 bidding strategy with prices going up at 6% now or maybe more.
However, there are other options that can be used on other properties that may make more sense.
See programs #4 and #5 below, then contact me to talk about how to minimize payments and reduce out of pocket costs.
1) 100% LTV- VA / (VA Jumbo @ lower ltv)
2) 100% LTV- USDA/12 mo. into Chapter 13 BKâ€¦OK Too
3) 99% LTV- FHA / (FHA to 580 score @ lower ltv)
4) 97% LTV- No monthly MI-No FHA 1.75% Fee
5) 95% LTV- CONDO
6) 90% LTV- No PMI -2nd Home
7) 90% LTV- JUMBO w/cc
8) 85% LTV- No PMI - Super Jumbo
9) 80% LTV- Invest./Rental
10) 75% LTV- Foreign Nationals
--------STATED INCOME ALT up to Super Jumbo-----------
11) 80% LTV- FIX nâ€™ FLIP Invest. Prop.
12) 75% LTV- Foreign Nationals
13) 75% CLTV- Short Sale, BK, Foreclosure Forgiveness
14) 70% LTV- Soft and Hard Money
15) LOT/VACANT LAND LOANS
16) COMMERCIAL PROGRAMS-available nationwide
Go to: http://WWW.PRO-OPTION-COM or call 888-662-4404
Pro Option Mortgage/ Florida
Prior Service U.S. Marine Corps
I previously worked with a REO listing Broker with all their leads. I have submitted many offers to them.
If I can help, let me know
Lic Real Estate Broker
Florida Real Assist
If the property hasn't been on the market a long time (under 90 days), and you try to lowball - most likely you will just get ignored by the asset manager who handles these properties for the lender. If you find one you really like, my advice is to do some extensive homework on the market values of properties comparable to the subject property, and make a strong offer accordingly the 1st time.
Again, all locations/markets are different - so what's the "norm" in Chicago - might not be for Florida. I would get in touch with a local real estate professional who can help you identify these properties and pull the appropriate comps.
Hope this helps!