All Forum Posts by: David Sirmons

To advertise a house on FMLS requires you to be a real estate agent, and to have a broker. I'm not an agent. I'm looking for independent websites, not MLS or any derivative of MLS.

I've been looking for websites that are successful at getting houses bought. If anyone has real experience with moving their properties via a particular site, please contact me asap with my email or phone number at the bottom of this post.

If anyone knows off the top of their head of title companies in or near Jacksonville, FL that will do double closings without trans funding for A to B, please let me know.

Anyone know of a small, simple auto mailer program?
Please let me know...

Maybe someone involved in a bank or some other high-end real estate machine could tell me exactly what a 'fund manager' is, or what they do. And how do they relate to end investors like myself?
Or do they? Confused....

Small homes are no problem, even larger homes are not mysterious. But high dollar homes like this I'm not sure about. Where could it be marketed?

In truth, I'm not wanting to put down one dollar more than absolutely necessary to lock any REO, and I was wondering what are the highest priced REOs (accepted offer price with bank) people here have successfully locked and closed on with only $1000 EMD.

Actual experience only, please...

It seems that even if you want to back out of an offer after it's accepted, you may be in for a rude awakening.

Apparently, you need some kind of provision in place in order to have an 'out' if your buyer splits or disappears. (My only concern.)

I've heard several things:

1.) Take a picture - take a photo of a house the day you first make an offer. That way, assuming your offer is accepted, you can have a visual reference to argue that something has 'changed' since the photo, if you need/want to back out.

2.) Stipulate an inspection period - Pointless, because your offer will likely do better if you have no inspection period. They'll give you one anyway. But, a question on this - does the bank-given inspection period allow you a 'backout' time? It seems if you back out, most banks require proof of an inspection/failed inspection, which might cost a couple hundred dollars.

3.) Stipulate financing contingencies - if you state you 'cannot get a loan' they'll want to see with whom you applied and were denied. If you state 'my buyer backed out/disappeared' you'll likely ruin any chance of doing business with them in the future.

It seems that every road has some kind of ugly, stinky roadblock.
I don't like roadblocks. I really don't like ugly stinky ones.

Give me some cool detours, guys! And thanks!!

Thank you all for the insight! I'm actually ready to begin making offers, but I would like some clarity on 'backout' contingencies after offers are made...Check out the new thread if any of you have advice on this.

Thanks for the reply! Do you have any insights into the last part of my above question? If a REO-selling entity requires a bank statement (and that amount is not IN my bank) how is this approached, or better yet, how is transactional funding able to help in this 'statement required' situation?