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Updated over 6 years ago on . Most recent reply

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1
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1
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Jeannie L.
  • London, KY
1
Votes |
1
Posts

Convince this REO asset manager to sell me this house I want?

Jeannie L.
  • London, KY
Posted

There is a house I am very interested in, listed by Castlerock REO. I have thoroughly checked it out and would like to buy it, the problem is...it may be pending to someone else. But...it has been in pending status for a very long time (6-8 weeks or so). I spoke to the asset manager and he said the deal was kind of a mess, the person doesn't exactly have the money (it is allegedly in some kind of trust account?), they are stalling with title work which I don't think is an actual issue, just a delay tactic, etc.

Anyway, I made them an all cash offer, fast closing (ASAP, only depending on how long title search takes), no contingencies. I haven't heard back from the asset manager yet and I want to talk to him on Monday to get a feel for what is going on, if I have a shot at this house, if there's anything more I can do or say to make this deal happen. My offer is a bit low based on the issues the place needs addressed, however I have some room to go up. Any advice? 

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5
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Tameka Herring
  • Rental Property Investor
  • Eufaula, AL
1
Votes |
5
Posts
Tameka Herring
  • Rental Property Investor
  • Eufaula, AL
Replied

Did you get the deal from Castlerock REO, Jennie L.? If so, I have some questions since I am in the negotiation phase with them.

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