All Forum Posts by: Mike Rice

Answer to Q1:   You dictate the price of your offer.  Throw out the list price.  You know your market.  You are the one having to rehab it.  You come up with YOUR best price regardless of any variables from the seller.  

Answer to Q2: in some cases your HM lender will need variable things in order to place a lien on the property. None of these puts a contingency on your offer. The seller is stating that all purchase offers are "cash at closing". You are providing the seller with a market offer with NO financing contingency (most banks selling REO, they should be fine with your HM financing - as long as you aren't asking for a contingency contingency)

Gooood luck.  Sometimes being the highest offer isn’t always the best when it comes to the TERMS of your offer.  Some higher offers want special items or special requests.  Make your offer and don’t move after you inspect.  This always angered our sellers when the investor should have known about things when they did their visual inspection of the home.  

just my 2 cents!!!

I have always liked Lighthouse Cove in the old Village of Tequesta.  

Some of the associations will only let you rent out 1-2x per year - so be careful on the CC&R...   also - along the corridor of US1 and the ocean - there's Jupiter Ocean Racquet Club, Jupiter Bay and some others along that small section.  $300k might be a little tight - but with some tender loving care - it's all about location vs. sq ft at that point.

Constants will be beach access is never going away, US1 is getting more congested, but it still a nice easy road to travel (vs. going all the way west to get on i-95).  Town of Jupiter is pushing for some strong business towards the beach and making the center of Jupiter at US1 & Indiantown Rd (by the bridge).  But the congestion is getting unbearable to some of the locals.

personally would consider martin county even - there's some quiet streets and old-town-feel still available.  I would not go further north than martin county.  And I would not go further south than Donald Ross Rd (maybe a cute condo in Juno).

Good luck and let me know if you need a good agent referral.  There's a lot of great agents in the market.

ps - I lived there for almost 40 yrs and moved to a little town in NC outside of Raleigh.  Much quieter up here.  but my office is still in Jup/Teq.   

Andre. What’s your price range?  (Low-High).  And how many beds/ba are you considering

Sounds like a great little group being put together. Hope to see you all there. That is the night of the UNC v Dookies Matchup. I will try and make it.

There's a lot of great people at other auction companies.  Lots!!   And there are many other auction vendors that provide a valuable service to the marketplace.  But in the Terms & Cond - it will disclose that the auction company may bid - on behalf of the seller - up to the reserve price (which is rarely ever disclosed).  

We are a national REO Auction company. Veteran-founded, family-owned. Over 200 auctioneers in the field and a full time staff. Been doing auctions for almost 28 yrs. We don't work with private owners, only banks, servicers and portfolio managers.

We do NOT bid on behalf of the seller up to the reserve price.  We market and advertise the asset and the market delivers the best results.  No reason to mess with something that clearly works.  

The auction concept works. No doubt.  But it is slowly being eroded of it’s benefit when the consumer feels like they are being bamboozled.  And I’m not talking about a jelly bean that you thought was going to be tutti-frutti and instead is stinky socks.  Buuuut maybe that’s what RE auctions are turning into be...

Not cool jelly beans.  Not cool 

As a company we use SalesForce for all our data. It has a CRM function that is beyond anything we could ever need/want... ifs also expensive. But worth every penny.

15 vacant lots that a large bank is trying to unload. I am trying to get something of an interest in them to show the bank honcho that we will shake the trees anywhere and anyway we can. Since this is bulk, you gotta take the good w the bad, but the price for clean/vacant land...? Throw me an offer and I will see what I can put together from the sellers POV.

BANK-OWNED PROPERTY AUCTION

Sale Date:Saturday, October 7, 2017 at 2:00 PM

SELLER IS NOW ACCEPTING PRE-AUCTION OFFERS! CONTACT AN AGENT!

Nice size bi-level on great property. Home needs some TLC, but offers large rooms, hardwood floors, and a great wood burning fireplace!

Description: Single Family on .81 Acres, 3 bedrooms, 2.5 bath, 1928 sq. ft.

Open House: Saturday, September 30th & Sunday, October 1st from 1:00-4:00 PM

Property Agent/Broker: Juba Team Realty, Justin Juba/James Heasty, [email protected], (973) 214-1134 (cell)

Auctioneer: Jose Baidal

Directions: From NJ-94 or NY-94, go south on Barrett Rd., left onto Hickory Rd., right onto Chestnut Tree Dr., property is on the left

ALL SALES TAKE PLACE FROM THE PREMISES • TERMS & CONDITIONS
The seller reserves the right to accept or reject the high bid. 5% buyer's premium day of auction. Sellers reserve the right to remove property from auction at any time. Contact listing agent before the auction date for property status. If you have any questions regarding the offer process, please contact auction company at 561-746-1633, or reach out to listing agent.

**Seller reserves the right to remove this property from the auction block at anytime.