All Forum Posts by: Ron H

When we list these types of properties we stipulate in the MLS that we are only accepting cash offers thus the seasoning is irrelevant. It's not the title companies that have a problem with it, it's the lenders.

Thank you for the offer Vikram, however I am starting a bidding service myself. Thanks for the info.

I'm looking for some information regarding drop bids. I am a Realtor in the East Valley of the Phoenix metro area and I'll be providing a bidding service to a couple investors and I'm wondering where do the bidding services out there get their information from? Especially in regards to drop bids. Any info regarding this area would be nice.

As an REO agent myself, we have implemented systems that allow us to work more efficiently. REO work is extremely involved and when an investor (I'm one too) comes in and does something that conflicts with the system,or IOW, submits an offer using an option contract or something similar, then it rocks the boat and brings us out of our element.

Some of this is just plain wrong. I'll take it by the number.

2) Yes this is sort of true. The way you get a bank to pay for your closing cost is in a reduction of purchase price. If that is what you want then just put in a lower offer.

7) Again this will depend on how long the home has been on the market. If you submit an offer and the giving 72 hours is just fine and you are sure to at the very least get a counter offer.

8) This depends on how long the property has been sitting on the market. If you see a home that has been sitting for 45+ days then you can bet that they are not sitting on offers waiting for a higher one. They don't have any offers. I would NEVER recommend anyone much less an investor to start their offer off at or even near list price. If your offer is fair, say 90% of list price then at the very least you will be countered. At some point you may even receive a highest & best document from the listings agent, but I would be willing to bet that most of the time this will be a bluff. Now, this isn't the case if the home has been on the market for less than 30 days or so.

Does said negotiator reside in Florida?

Just tell them that there won't be any other offer and that you are their only offer. In my state they have but only two options, short sale or foreclosure. If the file has made it to the negotiator then escalate it to their manager. If that doesn't work then escalate it to their managers manager and if need be go up to the AVP of loss mitigation. In this game do not take a NO from a person that doesn't have authority to give you a no. You will get a yes, you just are talking to the wrong person.