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  • January 13, 2008 at 6:41 PM #135534
    CVFanGirl
    Participant

    I have a friend in Saratoga who just got their automated value back on their equity loan. It isn’t what they paid for the home and all it’s accoutrements, that’s for sure. in fact it’s about 140k below purchase (including landscaping)

    My question is, what IS an automated value? Is the quote they were given going to stick or is there a chance that a live person appraisal will come in at a higher number?

    That could tell us something useful perhaps about the state of CCHighlands

    January 13, 2008 at 7:10 PM #135261
    Anonymous
    Guest

    Submitted by SD Realtor on January 13, 2008 – 5:56pm.

    I am sorry but I am more then a little skeptical that the lender will allow 70k in cash to come back to anybody. I can see upgrades and incentives but again, if 70k came back in cash…. well… I just don’t see it. Like I said, I am skeptical.

    SD Realtor

    Hi, SD. I know of a real estate investor/flipper that negotiates most of his deals to provide for him cash back at closing. I know it can be done, just don’t know exactly the specifics. He used the cash to float his other properties (and I’m sure pocketed some for himself) until they were sold. He wasn’t good at what he did, he went backrupt, but he got 50k or more cash back at closing on more than one deal.

    January 13, 2008 at 7:10 PM #135458
    Anonymous
    Guest

    Submitted by SD Realtor on January 13, 2008 – 5:56pm.

    I am sorry but I am more then a little skeptical that the lender will allow 70k in cash to come back to anybody. I can see upgrades and incentives but again, if 70k came back in cash…. well… I just don’t see it. Like I said, I am skeptical.

    SD Realtor

    Hi, SD. I know of a real estate investor/flipper that negotiates most of his deals to provide for him cash back at closing. I know it can be done, just don’t know exactly the specifics. He used the cash to float his other properties (and I’m sure pocketed some for himself) until they were sold. He wasn’t good at what he did, he went backrupt, but he got 50k or more cash back at closing on more than one deal.

    January 13, 2008 at 7:10 PM #135461
    Anonymous
    Guest

    Submitted by SD Realtor on January 13, 2008 – 5:56pm.

    I am sorry but I am more then a little skeptical that the lender will allow 70k in cash to come back to anybody. I can see upgrades and incentives but again, if 70k came back in cash…. well… I just don’t see it. Like I said, I am skeptical.

    SD Realtor

    Hi, SD. I know of a real estate investor/flipper that negotiates most of his deals to provide for him cash back at closing. I know it can be done, just don’t know exactly the specifics. He used the cash to float his other properties (and I’m sure pocketed some for himself) until they were sold. He wasn’t good at what he did, he went backrupt, but he got 50k or more cash back at closing on more than one deal.

    January 13, 2008 at 7:10 PM #135516
    Anonymous
    Guest

    Submitted by SD Realtor on January 13, 2008 – 5:56pm.

    I am sorry but I am more then a little skeptical that the lender will allow 70k in cash to come back to anybody. I can see upgrades and incentives but again, if 70k came back in cash…. well… I just don’t see it. Like I said, I am skeptical.

    SD Realtor

    Hi, SD. I know of a real estate investor/flipper that negotiates most of his deals to provide for him cash back at closing. I know it can be done, just don’t know exactly the specifics. He used the cash to float his other properties (and I’m sure pocketed some for himself) until they were sold. He wasn’t good at what he did, he went backrupt, but he got 50k or more cash back at closing on more than one deal.

    January 13, 2008 at 7:10 PM #135558
    Anonymous
    Guest

    Submitted by SD Realtor on January 13, 2008 – 5:56pm.

    I am sorry but I am more then a little skeptical that the lender will allow 70k in cash to come back to anybody. I can see upgrades and incentives but again, if 70k came back in cash…. well… I just don’t see it. Like I said, I am skeptical.

    SD Realtor

    Hi, SD. I know of a real estate investor/flipper that negotiates most of his deals to provide for him cash back at closing. I know it can be done, just don’t know exactly the specifics. He used the cash to float his other properties (and I’m sure pocketed some for himself) until they were sold. He wasn’t good at what he did, he went backrupt, but he got 50k or more cash back at closing on more than one deal.

    January 13, 2008 at 9:19 PM #135292
    Anonymous
    Guest

    Sorry dejams, I don’t know the builder’s name. But I know it’s the last unit of that builder’s small inventory. There is currently a comparable resale which priced at > 1.2 M.

    January 13, 2008 at 9:19 PM #135487
    Anonymous
    Guest

    Sorry dejams, I don’t know the builder’s name. But I know it’s the last unit of that builder’s small inventory. There is currently a comparable resale which priced at > 1.2 M.

    January 13, 2008 at 9:19 PM #135493
    Anonymous
    Guest

    Sorry dejams, I don’t know the builder’s name. But I know it’s the last unit of that builder’s small inventory. There is currently a comparable resale which priced at > 1.2 M.

    January 13, 2008 at 9:19 PM #135549
    Anonymous
    Guest

    Sorry dejams, I don’t know the builder’s name. But I know it’s the last unit of that builder’s small inventory. There is currently a comparable resale which priced at > 1.2 M.

    January 13, 2008 at 9:19 PM #135589
    Anonymous
    Guest

    Sorry dejams, I don’t know the builder’s name. But I know it’s the last unit of that builder’s small inventory. There is currently a comparable resale which priced at > 1.2 M.

    January 13, 2008 at 9:57 PM #135309
    SD Realtor
    Participant

    Sorry sdhome but I just don’t believe it. In fact if you give me the address of the home I will look it up on the MLS and then go to the sales office to see if they actually wrote a check of 70k to your friend.

    Marion – Perhaps your friend gets his financing from investors or other uncoventional sources. Perhaps he gets the cash back through some deal with the sellers. However if we are talking about common lenders again, I don’t see it. If it is a friend of yours then get the details and post them here. Vagaries such as I don’t exactly know how he did it do not wash with me because that implies he either did not do it or he did it illegaly.

    It is fraud. Plain and simple.

    Everyone always seems to have a friend or a neighbor or know somebody. When it comes down to it though it is fraud. Maybe these people pulled it off somehow. Builders don’t write out 70k checks to people. They give buku incentives in services or upgrades and such.

    I will believe it when someone posts here and says THEY DID IT.

    January 13, 2008 at 9:57 PM #135502
    SD Realtor
    Participant

    Sorry sdhome but I just don’t believe it. In fact if you give me the address of the home I will look it up on the MLS and then go to the sales office to see if they actually wrote a check of 70k to your friend.

    Marion – Perhaps your friend gets his financing from investors or other uncoventional sources. Perhaps he gets the cash back through some deal with the sellers. However if we are talking about common lenders again, I don’t see it. If it is a friend of yours then get the details and post them here. Vagaries such as I don’t exactly know how he did it do not wash with me because that implies he either did not do it or he did it illegaly.

    It is fraud. Plain and simple.

    Everyone always seems to have a friend or a neighbor or know somebody. When it comes down to it though it is fraud. Maybe these people pulled it off somehow. Builders don’t write out 70k checks to people. They give buku incentives in services or upgrades and such.

    I will believe it when someone posts here and says THEY DID IT.

    January 13, 2008 at 9:57 PM #135508
    SD Realtor
    Participant

    Sorry sdhome but I just don’t believe it. In fact if you give me the address of the home I will look it up on the MLS and then go to the sales office to see if they actually wrote a check of 70k to your friend.

    Marion – Perhaps your friend gets his financing from investors or other uncoventional sources. Perhaps he gets the cash back through some deal with the sellers. However if we are talking about common lenders again, I don’t see it. If it is a friend of yours then get the details and post them here. Vagaries such as I don’t exactly know how he did it do not wash with me because that implies he either did not do it or he did it illegaly.

    It is fraud. Plain and simple.

    Everyone always seems to have a friend or a neighbor or know somebody. When it comes down to it though it is fraud. Maybe these people pulled it off somehow. Builders don’t write out 70k checks to people. They give buku incentives in services or upgrades and such.

    I will believe it when someone posts here and says THEY DID IT.

    January 13, 2008 at 9:57 PM #135564
    SD Realtor
    Participant

    Sorry sdhome but I just don’t believe it. In fact if you give me the address of the home I will look it up on the MLS and then go to the sales office to see if they actually wrote a check of 70k to your friend.

    Marion – Perhaps your friend gets his financing from investors or other uncoventional sources. Perhaps he gets the cash back through some deal with the sellers. However if we are talking about common lenders again, I don’t see it. If it is a friend of yours then get the details and post them here. Vagaries such as I don’t exactly know how he did it do not wash with me because that implies he either did not do it or he did it illegaly.

    It is fraud. Plain and simple.

    Everyone always seems to have a friend or a neighbor or know somebody. When it comes down to it though it is fraud. Maybe these people pulled it off somehow. Builders don’t write out 70k checks to people. They give buku incentives in services or upgrades and such.

    I will believe it when someone posts here and says THEY DID IT.

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