offer in. now we play the game…(REO)

[bsrsharma]

One more supporter of Rt.66 strategy (who successfully bought a REO recently using that exact logic). Double dipping + high cash (to reduce uncertainty of closing) + few contingencies (+ government/public as the ultimate bag holder in many cases) can work wonders when greed is the basic lubricant. Just remember one other formula: you can reduce purchase price offer almost in proportion to cash you bring to table. Sometimes the proportion can be dramatic, like $ for $ i.e. $400,000 cash = $800,000 loan; A Bird in hand is truly worth two in a Bush for REOs!. That is why all cash offers always win out in the end.

[urbanrealtor]

[quote=bsrsharma]One more supporter of Rt.66 strategy (who successfully bought a REO recently using that exact logic). Double dipping + high cash (to reduce uncertainty of closing) + few contingencies (+ government/public as the ultimate bag holder in many cases) can work wonders when greed is the basic lubricant. Just remember one other formula: you can reduce purchase price offer almost in proportion to cash you bring to table. Sometimes the proportion can be dramatic, like $ for $ i.e. $400,000 cash = $800,000 loan; A Bird in hand is truly worth two in a Bush for REOs!. That is why all cash offers always win out in the end.[/quote]

I don’t dispute that playing on greed can be effective but I think we would do well to look at some actual examples.

Would any of the supporters of going unrepresented care to share their address and contract details?

My suspicion (though I am not certain) is that the disadvantage of not having professional representation will show.

But I am open to being convinced.

Please share.
Contract PDF’s would be appreciated.

[urbanrealtor]

[quote=bsrsharma]One more supporter of Rt.66 strategy (who successfully bought a REO recently using that exact logic). Double dipping + high cash (to reduce uncertainty of closing) + few contingencies (+ government/public as the ultimate bag holder in many cases) can work wonders when greed is the basic lubricant. Just remember one other formula: you can reduce purchase price offer almost in proportion to cash you bring to table. Sometimes the proportion can be dramatic, like $ for $ i.e. $400,000 cash = $800,000 loan; A Bird in hand is truly worth two in a Bush for REOs!. That is why all cash offers always win out in the end.[/quote]

I don’t dispute that playing on greed can be effective but I think we would do well to look at some actual examples.

Would any of the supporters of going unrepresented care to share their address and contract details?

My suspicion (though I am not certain) is that the disadvantage of not having professional representation will show.

But I am open to being convinced.

Please share.
Contract PDF’s would be appreciated.

[urbanrealtor]

[quote=bsrsharma]One more supporter of Rt.66 strategy (who successfully bought a REO recently using that exact logic). Double dipping + high cash (to reduce uncertainty of closing) + few contingencies (+ government/public as the ultimate bag holder in many cases) can work wonders when greed is the basic lubricant. Just remember one other formula: you can reduce purchase price offer almost in proportion to cash you bring to table. Sometimes the proportion can be dramatic, like $ for $ i.e. $400,000 cash = $800,000 loan; A Bird in hand is truly worth two in a Bush for REOs!. That is why all cash offers always win out in the end.[/quote]

I don’t dispute that playing on greed can be effective but I think we would do well to look at some actual examples.

Would any of the supporters of going unrepresented care to share their address and contract details?

My suspicion (though I am not certain) is that the disadvantage of not having professional representation will show.

But I am open to being convinced.

Please share.
Contract PDF’s would be appreciated.

[urbanrealtor]

[quote=bsrsharma]One more supporter of Rt.66 strategy (who successfully bought a REO recently using that exact logic). Double dipping + high cash (to reduce uncertainty of closing) + few contingencies (+ government/public as the ultimate bag holder in many cases) can work wonders when greed is the basic lubricant. Just remember one other formula: you can reduce purchase price offer almost in proportion to cash you bring to table. Sometimes the proportion can be dramatic, like $ for $ i.e. $400,000 cash = $800,000 loan; A Bird in hand is truly worth two in a Bush for REOs!. That is why all cash offers always win out in the end.[/quote]

I don’t dispute that playing on greed can be effective but I think we would do well to look at some actual examples.

Would any of the supporters of going unrepresented care to share their address and contract details?

My suspicion (though I am not certain) is that the disadvantage of not having professional representation will show.

But I am open to being convinced.

Please share.
Contract PDF’s would be appreciated.

[urbanrealtor]

[quote=bsrsharma]One more supporter of Rt.66 strategy (who successfully bought a REO recently using that exact logic). Double dipping + high cash (to reduce uncertainty of closing) + few contingencies (+ government/public as the ultimate bag holder in many cases) can work wonders when greed is the basic lubricant. Just remember one other formula: you can reduce purchase price offer almost in proportion to cash you bring to table. Sometimes the proportion can be dramatic, like $ for $ i.e. $400,000 cash = $800,000 loan; A Bird in hand is truly worth two in a Bush for REOs!. That is why all cash offers always win out in the end.[/quote]

I don’t dispute that playing on greed can be effective but I think we would do well to look at some actual examples.

Would any of the supporters of going unrepresented care to share their address and contract details?

My suspicion (though I am not certain) is that the disadvantage of not having professional representation will show.

But I am open to being convinced.

Please share.
Contract PDF’s would be appreciated.

[sreeb]

I don’t think you are going to get a counter when there are multiple offers on an REO. They may come back to you in a couple of weeks if they choose another buyer who fails to perform.

The most important thing you can do is make it obvious that you can perform. You want to submit prequal info with the offer. You are a little weak because of the borderline DP as you may not be able to perform if it doesn’t appraise.

[sreeb]

I don’t think you are going to get a counter when there are multiple offers on an REO. They may come back to you in a couple of weeks if they choose another buyer who fails to perform.

The most important thing you can do is make it obvious that you can perform. You want to submit prequal info with the offer. You are a little weak because of the borderline DP as you may not be able to perform if it doesn’t appraise.

[sreeb]

I don’t think you are going to get a counter when there are multiple offers on an REO. They may come back to you in a couple of weeks if they choose another buyer who fails to perform.

The most important thing you can do is make it obvious that you can perform. You want to submit prequal info with the offer. You are a little weak because of the borderline DP as you may not be able to perform if it doesn’t appraise.

[sreeb]

I don’t think you are going to get a counter when there are multiple offers on an REO. They may come back to you in a couple of weeks if they choose another buyer who fails to perform.

The most important thing you can do is make it obvious that you can perform. You want to submit prequal info with the offer. You are a little weak because of the borderline DP as you may not be able to perform if it doesn’t appraise.

[sreeb]

I don’t think you are going to get a counter when there are multiple offers on an REO. They may come back to you in a couple of weeks if they choose another buyer who fails to perform.

The most important thing you can do is make it obvious that you can perform. You want to submit prequal info with the offer. You are a little weak because of the borderline DP as you may not be able to perform if it doesn’t appraise.

[Author]

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