Bank REO

[UCGal]

congrats on your purchase, garysears.

[garysears]

Thanks UCGal. Kind of seems like my post was a threadjack. I guess that was a long way of saying lowballing is not as easy as last year. Having said that, I always offered what I was willing to pay. And in some cases cash or conventional will get you preference over government low money down financing.

I never played the “highest and best” game. My first offer was always my highest and best. I was always prepared to walk on any deal, knowing there will ALWAYS be other houses out there and even the rare good deal.

One way to play the game is to make your offer a conventional offer with max down. Then, when you are in escrow you can probably change the loan type and down payment. Getting into escrow is the hard part. Cash is cash at closing. Doesn’t matter who writes the check.

[garysears]

Thanks UCGal. Kind of seems like my post was a threadjack. I guess that was a long way of saying lowballing is not as easy as last year. Having said that, I always offered what I was willing to pay. And in some cases cash or conventional will get you preference over government low money down financing.

I never played the “highest and best” game. My first offer was always my highest and best. I was always prepared to walk on any deal, knowing there will ALWAYS be other houses out there and even the rare good deal.

One way to play the game is to make your offer a conventional offer with max down. Then, when you are in escrow you can probably change the loan type and down payment. Getting into escrow is the hard part. Cash is cash at closing. Doesn’t matter who writes the check.

[garysears]

Thanks UCGal. Kind of seems like my post was a threadjack. I guess that was a long way of saying lowballing is not as easy as last year. Having said that, I always offered what I was willing to pay. And in some cases cash or conventional will get you preference over government low money down financing.

I never played the “highest and best” game. My first offer was always my highest and best. I was always prepared to walk on any deal, knowing there will ALWAYS be other houses out there and even the rare good deal.

One way to play the game is to make your offer a conventional offer with max down. Then, when you are in escrow you can probably change the loan type and down payment. Getting into escrow is the hard part. Cash is cash at closing. Doesn’t matter who writes the check.

[garysears]

Thanks UCGal. Kind of seems like my post was a threadjack. I guess that was a long way of saying lowballing is not as easy as last year. Having said that, I always offered what I was willing to pay. And in some cases cash or conventional will get you preference over government low money down financing.

I never played the “highest and best” game. My first offer was always my highest and best. I was always prepared to walk on any deal, knowing there will ALWAYS be other houses out there and even the rare good deal.

One way to play the game is to make your offer a conventional offer with max down. Then, when you are in escrow you can probably change the loan type and down payment. Getting into escrow is the hard part. Cash is cash at closing. Doesn’t matter who writes the check.

[garysears]

Thanks UCGal. Kind of seems like my post was a threadjack. I guess that was a long way of saying lowballing is not as easy as last year. Having said that, I always offered what I was willing to pay. And in some cases cash or conventional will get you preference over government low money down financing.

I never played the “highest and best” game. My first offer was always my highest and best. I was always prepared to walk on any deal, knowing there will ALWAYS be other houses out there and even the rare good deal.

One way to play the game is to make your offer a conventional offer with max down. Then, when you are in escrow you can probably change the loan type and down payment. Getting into escrow is the hard part. Cash is cash at closing. Doesn’t matter who writes the check.

[jpinpb]

gary – thanks for sharing your story. Congrats on getting the place. Nowadays, that’s an accomplishment. I am curious what ZIP, do you mind?

[jpinpb]

gary – thanks for sharing your story. Congrats on getting the place. Nowadays, that’s an accomplishment. I am curious what ZIP, do you mind?

[jpinpb]

gary – thanks for sharing your story. Congrats on getting the place. Nowadays, that’s an accomplishment. I am curious what ZIP, do you mind?

[jpinpb]

gary – thanks for sharing your story. Congrats on getting the place. Nowadays, that’s an accomplishment. I am curious what ZIP, do you mind?

[jpinpb]

gary – thanks for sharing your story. Congrats on getting the place. Nowadays, that’s an accomplishment. I am curious what ZIP, do you mind?

[garysears]

JP,

Lakeside 92040. It is a little further maybe than I’d like, 35 minutes vs current 25 minutes to work. There isn’t much in Lakeside under 300K. The property layout is a little unique and certainly not for everyone. That combined with the 20% down conventional requirement probably kept everyone else away. I choose to take that as a sign that this was meant to be my place. I had expected fierce competition like my previous offers on properties. I think that after a few weeks on market people start to assume there is something wrong with the place.

We have a tenant in mind for the granny flat…a long time friend who will likely be a long term renter and we’ll offer an under market rate. If we move we’ll have someone we trust to keep an eye on the place. My monthly out of pocket cost will be less than the 2/2 condo I’m renting now in La Mesa.

[garysears]

JP,

Lakeside 92040. It is a little further maybe than I’d like, 35 minutes vs current 25 minutes to work. There isn’t much in Lakeside under 300K. The property layout is a little unique and certainly not for everyone. That combined with the 20% down conventional requirement probably kept everyone else away. I choose to take that as a sign that this was meant to be my place. I had expected fierce competition like my previous offers on properties. I think that after a few weeks on market people start to assume there is something wrong with the place.

We have a tenant in mind for the granny flat…a long time friend who will likely be a long term renter and we’ll offer an under market rate. If we move we’ll have someone we trust to keep an eye on the place. My monthly out of pocket cost will be less than the 2/2 condo I’m renting now in La Mesa.

[garysears]

JP,

Lakeside 92040. It is a little further maybe than I’d like, 35 minutes vs current 25 minutes to work. There isn’t much in Lakeside under 300K. The property layout is a little unique and certainly not for everyone. That combined with the 20% down conventional requirement probably kept everyone else away. I choose to take that as a sign that this was meant to be my place. I had expected fierce competition like my previous offers on properties. I think that after a few weeks on market people start to assume there is something wrong with the place.

We have a tenant in mind for the granny flat…a long time friend who will likely be a long term renter and we’ll offer an under market rate. If we move we’ll have someone we trust to keep an eye on the place. My monthly out of pocket cost will be less than the 2/2 condo I’m renting now in La Mesa.

[garysears]

JP,

Lakeside 92040. It is a little further maybe than I’d like, 35 minutes vs current 25 minutes to work. There isn’t much in Lakeside under 300K. The property layout is a little unique and certainly not for everyone. That combined with the 20% down conventional requirement probably kept everyone else away. I choose to take that as a sign that this was meant to be my place. I had expected fierce competition like my previous offers on properties. I think that after a few weeks on market people start to assume there is something wrong with the place.

We have a tenant in mind for the granny flat…a long time friend who will likely be a long term renter and we’ll offer an under market rate. If we move we’ll have someone we trust to keep an eye on the place. My monthly out of pocket cost will be less than the 2/2 condo I’m renting now in La Mesa.

[Author]

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