Nost and Flu,
I wasn’t trying to make anyone jsutify anything. I was just. I am like you two in that I am hyper vigilant about these things. In a market like this targeting people WITH EQUITY is a good way to find someone who can afford to sell at a desired price too.
Some times these numbers are useful for finding distress prior to NOD. I don’t let my kids get attached to neighbors who are likely to lose their houses for instance. JK. I do sometimes like to know if a property is likely to default, for various non- business reasons. Debt frequently explains or predicts behavior.OF course I keep this info between me myself and I unless it is really pertinent to a proeprty search. Well, I tell my wife sometimes. Some renters have the right idea about checking out indebtedness or the landlord so that they won’t go through a foreclosure.
Nostradamus. The Real Estate Cartel is alive and well. You can get around it sometimes but more often then not, it is impractical to take that exercise to far.
Good fico and DP will help, maybe. The banks for REO and short sales want to usually verify buyer strength.Competition for the property is still going to have primary effect on you odds of getting it. All cash probably speaks a bit louder though.
Most people dont want to buy all cash even if they have it but using cash to leverage a low offer or make a deal problem free and then financing after close is a good option.
