lost my first wholesale!!!

5 Replies

So I get an email today from a agent that has a 3/2 In tulsa current market value  @98k. This was a reverse short sale listed at 47k

Being on my way to California and a little research I wasn't comfortable at that price point so I offered 40 thinking I had a buyer my buyer backed out the agent is waiting for an email from me so I am here trying to find out what to do should I go ahead with the offer.and hope to find a buyer or let this one go. Keep in mind I haven't physically inspected the property was built in the 70s 

did your buyer back out after seeing it?   At least the outside?   If not, why did he back out?

First deal and you are making offers sight unseen?  

Since you are negotiating a short sale that does not appear to be approved by the bank, I think you have plenty of time to find more buyers.  

Send me the info.  I might buy it.  

A reverse mtg short sale will have a set, required price. 95% of FHA appraisal, assuming it's FHA insured, which almost 100% are. If the listing agent knows what they're doing, this will be the list price.

if you like you can go to okwholesaleproperties.com and put in you specific desires it will link directly to my back office and when I get a property that matches your criteria it will automatically notify you

Join the Largest Real Estate Investing Community

Basic membership is free, forever.