- This topic has 220 replies, 22 voices, and was last updated 13 years, 6 months ago by
bearishgurl.
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June 9, 2010 at 10:35 AM #562281June 9, 2010 at 6:05 PM #561560
pemeliza
Participant“Can anyone have any experience with bank owned property? What is a good rule of thumb while making an offer on such property”
Don’t go crazy. Today’s buyer is not responding to REOs like they used to. Many of them are now listed higher than market unlike in 2008 and 2009 when they were almost always listed under market. There are now several REOs listed in my area and it is like someone dropped a stink bomb on them. They are sitting. Right now you can probably get just as good a deal if not better from a regular motivated seller. REOs are apparently also automatically red flagged by the county assessor’s department and you could end up paying higher taxes than you expect. Definitely try to buy something where the current assessed value is lower than your purchase price.
June 9, 2010 at 6:05 PM #561659Participant“Can anyone have any experience with bank owned property? What is a good rule of thumb while making an offer on such property”
Don’t go crazy. Today’s buyer is not responding to REOs like they used to. Many of them are now listed higher than market unlike in 2008 and 2009 when they were almost always listed under market. There are now several REOs listed in my area and it is like someone dropped a stink bomb on them. They are sitting. Right now you can probably get just as good a deal if not better from a regular motivated seller. REOs are apparently also automatically red flagged by the county assessor’s department and you could end up paying higher taxes than you expect. Definitely try to buy something where the current assessed value is lower than your purchase price.
June 9, 2010 at 6:05 PM #562155Participant“Can anyone have any experience with bank owned property? What is a good rule of thumb while making an offer on such property”
Don’t go crazy. Today’s buyer is not responding to REOs like they used to. Many of them are now listed higher than market unlike in 2008 and 2009 when they were almost always listed under market. There are now several REOs listed in my area and it is like someone dropped a stink bomb on them. They are sitting. Right now you can probably get just as good a deal if not better from a regular motivated seller. REOs are apparently also automatically red flagged by the county assessor’s department and you could end up paying higher taxes than you expect. Definitely try to buy something where the current assessed value is lower than your purchase price.
June 9, 2010 at 6:05 PM #562260Participant“Can anyone have any experience with bank owned property? What is a good rule of thumb while making an offer on such property”
Don’t go crazy. Today’s buyer is not responding to REOs like they used to. Many of them are now listed higher than market unlike in 2008 and 2009 when they were almost always listed under market. There are now several REOs listed in my area and it is like someone dropped a stink bomb on them. They are sitting. Right now you can probably get just as good a deal if not better from a regular motivated seller. REOs are apparently also automatically red flagged by the county assessor’s department and you could end up paying higher taxes than you expect. Definitely try to buy something where the current assessed value is lower than your purchase price.
June 9, 2010 at 6:05 PM #562545Participant“Can anyone have any experience with bank owned property? What is a good rule of thumb while making an offer on such property”
Don’t go crazy. Today’s buyer is not responding to REOs like they used to. Many of them are now listed higher than market unlike in 2008 and 2009 when they were almost always listed under market. There are now several REOs listed in my area and it is like someone dropped a stink bomb on them. They are sitting. Right now you can probably get just as good a deal if not better from a regular motivated seller. REOs are apparently also automatically red flagged by the county assessor’s department and you could end up paying higher taxes than you expect. Definitely try to buy something where the current assessed value is lower than your purchase price.
June 9, 2010 at 8:59 PM #561600bearishgurl
Participant[quote=pemeliza]Right now you can probably get just as good a deal if not better from a regular motivated seller.[/quote]
I wholeheartedly agree, pemeliza.
[quote=pemeliza]Definitely try to buy something where the current assessed value is lower than your purchase price.[/quote](emphasis added)
Excellent advice!
June 9, 2010 at 8:59 PM #561699Participant[quote=pemeliza]Right now you can probably get just as good a deal if not better from a regular motivated seller.[/quote]
I wholeheartedly agree, pemeliza.
[quote=pemeliza]Definitely try to buy something where the current assessed value is lower than your purchase price.[/quote](emphasis added)
Excellent advice!
June 9, 2010 at 8:59 PM #562193Participant[quote=pemeliza]Right now you can probably get just as good a deal if not better from a regular motivated seller.[/quote]
I wholeheartedly agree, pemeliza.
[quote=pemeliza]Definitely try to buy something where the current assessed value is lower than your purchase price.[/quote](emphasis added)
Excellent advice!
June 9, 2010 at 8:59 PM #562300Participant[quote=pemeliza]Right now you can probably get just as good a deal if not better from a regular motivated seller.[/quote]
I wholeheartedly agree, pemeliza.
[quote=pemeliza]Definitely try to buy something where the current assessed value is lower than your purchase price.[/quote](emphasis added)
Excellent advice!
June 9, 2010 at 8:59 PM #562586Participant[quote=pemeliza]Right now you can probably get just as good a deal if not better from a regular motivated seller.[/quote]
I wholeheartedly agree, pemeliza.
[quote=pemeliza]Definitely try to buy something where the current assessed value is lower than your purchase price.[/quote](emphasis added)
Excellent advice!
November 15, 2010 at 6:53 PM #631083kcal09
Participanthttp://www.sdlookup.com/MLS-100044754-3131_Via_Alicante_105_La_Jolla_CA_92037
This property looks like a good deal but has been on the market for 4 months. Can anybody give me some input as I’m very interested in making an offer. Is the crack a serious problem or can it be fixed at a reasonable cost? Am I missing something?
November 15, 2010 at 6:53 PM #631161Participanthttp://www.sdlookup.com/MLS-100044754-3131_Via_Alicante_105_La_Jolla_CA_92037
This property looks like a good deal but has been on the market for 4 months. Can anybody give me some input as I’m very interested in making an offer. Is the crack a serious problem or can it be fixed at a reasonable cost? Am I missing something?
November 15, 2010 at 6:53 PM #631734Participanthttp://www.sdlookup.com/MLS-100044754-3131_Via_Alicante_105_La_Jolla_CA_92037
This property looks like a good deal but has been on the market for 4 months. Can anybody give me some input as I’m very interested in making an offer. Is the crack a serious problem or can it be fixed at a reasonable cost? Am I missing something?
November 15, 2010 at 6:53 PM #631863Participanthttp://www.sdlookup.com/MLS-100044754-3131_Via_Alicante_105_La_Jolla_CA_92037
This property looks like a good deal but has been on the market for 4 months. Can anybody give me some input as I’m very interested in making an offer. Is the crack a serious problem or can it be fixed at a reasonable cost? Am I missing something?
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