All Forum Posts by: Calvin N.

I agree with both pics by Summerhomes. As an agent the Millionaire Real Estate Agent book is a great tool. It gets a little deep in some areas but is still very good.

Yes, you will need to disclose that you are a licensed agent in any offers you make. You will need to discuss with your broker what they will allow as far as reducing the commission for properties you purchase.

Have you decided which broker you will work with once you get your license? If so, run this by him/her and see what they say.

Is this a SFR for your personal use or an investment? Will the seller provide a property disclosure or is this property sold as is?

Lots of reasons people back out of deals. Don't let that stop you from making an offer. Having your own inspector is always a good idea. Let us know some more details.

I believe Joshua has the winning answer. Agents use their picture as a way to put a face to a name. Just as a profile picture makes the post a little freindlier it does the same with marketing material.

Are you going to hold this as a rental or re-sell it after the rehab? Give us more details and you will get some advice.

Owen, What is the property worth? Give us that information and we may be able to help more in answering the short sale question.

Lb, Do you have an agent working for you? Any agent can submit your offer so you don't necessarily have to deal with the listing agent. If they will not respond, find one that will and get your offer in. Best of luck.

tenootes, It all depends on the bank and their procedures. Sometimes the banks will pick a higer offer with contingencies over a lower offer with no strings attached.

I sold an REO last week that had three offers come in. I sent the first one in and the bank began running it through their approval process. The second and third offers came over the next few days. Both offers were higher bids and with fewer contingencies. However, the bank stayed with the first offer that was lower.

Like Wheatie said, don't fall in love with a property. Just keep looking and you will find another one that will work out.

Sounds like this one was priced right and the bank got what they wanted...multiple offers above asking price.

Just write a simple letter to him explaining you would like to purchase his house. Make him an offer and let him accept or reject it. Don't make this hard! He has a property he wants to sell and you want to buy it.

You could also try and call him to make your offer. However, a written, legally binding contract is a much stronger offer, in my opinion.

krlovill, If you are going to purchase it directly from the homeowner you will not need to discuss it with the bank. However, if the owner sells it to you for less than what they owe they will be responsible for the remaining balance to the bank on their mortgage at the time of closing.

If you are wanting to purchase it as a short sale you will need the owner to sign a statement allowing you to contact the bank for information about the loan. Then you get into the fun part of negotiating with the bank. The owner would need a hardship letter that they present to the bank explaining why they will not be able to keep the house and why selling it to you is the best option.

Are you looking to purchase this for your own residence or for an investment? It does not appear to be that great of a deal if the comps are only 150K and they owe approximately 139K. Keep us posted on what you find out.