All Forum Posts by: Brandon Johnson

@Dave Crussel 

Did you submit online or did you have the listing agent submit the offer?  I submitted my first Homepath offer on Saturday (two days ago) through my agent to the listing agent.  I am trying to purchase as a primary residence during the owner occupant First Look period and its killing me waiting to hear back from them.  I am hoping it goes quicker since it is an offer for First Look.  Wouldn't they need to respond before First Look ends and it becomes open to all investors?

Thank you all for your responses.  I could really use the closing assistance, but since my offer is based on financing and appraisal I decided to go with the cleaner offer and just eat the closing costs since I already have those strikes against me.  I lost the last one of these I offered on and I offered $10k above the asking price so someone obviously wanted the property more than I did.  You all have helped me tremendously in making my decision. 

Thanks Bigger Pockets!!

Many thanks to all who responded:

@Brian Burgett    

@Bill Wallace

@Shayla Fletcher  

@Jesse T.

@Braden Smith 

@Robert Leonard 

Does anyone have any experience to be able to say whether a large financial institution would be less inclined to accept an offer on a bank owned foreclosure sale if the offer contained a stipulation that the seller pay all or some of the closing costs?

In my example of a bank owned duplex from a foreclosure that is priced slightly under market, assuming an offer at the asking price plus seller paying all or a portion of closing costs, would that closing cost stipulation weigh negatively on the bank's decision to accept my offer over another offer that is lower than mine on the net sum of the offer even if by only one or two thousand dollars?

Thanks for any input,

Brandon

@bryan Sharkey

Welcome Bryan, I am fairly new here myself and I just joined The RING on Meetup.  I look forward to meeting you and all the other RING investors in Baton Rouge at the next meeting. I have an offer in on my first investment property right now so hopefully I will soon be able to post the details of my first successful deal. 

Mina, do you mean that your debt to income is too high and that you have too much debt? This maybe a dumb question, but you worded it that your income to debt was too high so I initially read it as you make too much money to qualify. 

I agree Deanie's Seafood is excellent, but did you know they have a location in the Quarter?