All Forum Posts by: Maugno M.

I am interested in a property at Auction.com. It opened up for Bid today and i went ahead and put in for their minimum bid. I noticed that
right away, the system countered bidded against me and raised the price. I guess if i keep bidding it will keep raising till we get to the reserve.
What do you all suggest i do? Keep bidding till i get to my number? Or wait now till its really close to when the bid will end that way I
have a chance of getting at a lower price? I think i know what the reserve is or around, but i dont want to bid up since no one has bidded but me.

@John Frank Have you received any news or information on this besides the posts? I am currently looking at a house I want to purchase on auction.com and was wondering the EXACT same thing you discussed on here. I do not want a quit claim deed.

There needs to be a contingency on the contract that lets you back out if there is a title issue. That is a must ! How are you going to lose 3k for a home that doesn't come back with a clean title?
So if I was you, I would want the ability to back out without loosing the deposit. Forget about the inspections and all that if you are getting a good deal. The main priority is to get a clean and clear title. So sign the contract with the contingency, and then take it to the title company and they will handle the rest.

You all make this to damn complicated. Its up to the buyer to do their due diligence. If they get stuck on a deal that is their  fault not the TK companies. Everyone is out to make profit period. These expensive *** properties I don't see how yall even make money off. Like seriously, seems like yall are over paying on these things just because they rent good. Hell no! I would never. I buy cheap properties that can be flipped quick and you will recooperate your money in less than 4 years. But I'm in Texas who knows what yall got going on in other places.

Here in Texas you could almost by a property with that and flip it for sure. Idk what all these other folks are talking about here with ROTH and IRA's but id say put that money to work. I bought a lot for 1700 and sold it for 5k.

@Greg H. Clarified that this home is actually being sold by Fannie Mae. I'm sorry i was mistaken.

@Ryan Murdock @Greg H. I am working with a buyers agent. I put in the request through Realtor and the agent contacted me. So that's who Is representing me. But yes i immediately put in my offer when i was approved and it took over two weeks to know anything. My realtor says that she wasn't aware my offer had been rejected till today when I called the listing agent and she told me.

So I made an offer on a foreclosed HUD home. I'm giving them their asking price plus paying all closing costs. I was going to do it with an FHA LOAN.

The listing agent said they had many offers so make it your best so that's what i did. Last week, realtor says that listing agent said my offer is being reviewed and that all others were rejected. 1week went by without me getting confirmation. I called listing agent today and says my offer was rejected. That they had cash buyers supposedly. She said that I'm using an FHA loan and that it wouldnt pass because it had a whole in the roof. I knew all this and was willing to fix the issues.
Should i change my contract to show ima use an FHA203K loan instead or conventional? I really wanted the home!