[Scarlett]

[quote=sdduuuude]If you are in academia and have never worked in the industry, I’d say you are definitely not in the top 20%.

That isn’t to say you can’t be successful or move quickly to the top 20%.

Nothing substitutes for experience.[/quote]

Who says you can’t accumulate great experience in academia? I didn’t mean fresh out of grad school.

I know at least couple folks in UCSD that are Senior Programmers for at least 5-8 yrs and I consider them excellent. Some people like the laid back lifestyle of academia, the flexibility and the unbeatable benefits of academia and for them money is not an major consideration.

[Scarlett]

HLS, I was basically told by my realtor something like what sdr was saying. I wasn’t pressured to pay more, just I was made aware what could happen in many cases, and that I have to be patient, perseverent and not get emotionally ‘attached’ to a particular property.
I don’t know if I am a strong buyer, but I think I am pretty decent. I will certainly contact you, HLS, when I decide it’s time for me to buy.
Thanks,
Scarlett

[Scarlett]

HLS, I was basically told by my realtor something like what sdr was saying. I wasn’t pressured to pay more, just I was made aware what could happen in many cases, and that I have to be patient, perseverent and not get emotionally ‘attached’ to a particular property.
I don’t know if I am a strong buyer, but I think I am pretty decent. I will certainly contact you, HLS, when I decide it’s time for me to buy.
Thanks,
Scarlett

[Scarlett]

HLS, I was basically told by my realtor something like what sdr was saying. I wasn’t pressured to pay more, just I was made aware what could happen in many cases, and that I have to be patient, perseverent and not get emotionally ‘attached’ to a particular property.
I don’t know if I am a strong buyer, but I think I am pretty decent. I will certainly contact you, HLS, when I decide it’s time for me to buy.
Thanks,
Scarlett

[Scarlett]

HLS, I was basically told by my realtor something like what sdr was saying. I wasn’t pressured to pay more, just I was made aware what could happen in many cases, and that I have to be patient, perseverent and not get emotionally ‘attached’ to a particular property.
I don’t know if I am a strong buyer, but I think I am pretty decent. I will certainly contact you, HLS, when I decide it’s time for me to buy.
Thanks,
Scarlett

[Scarlett]

HLS, I was basically told by my realtor something like what sdr was saying. I wasn’t pressured to pay more, just I was made aware what could happen in many cases, and that I have to be patient, perseverent and not get emotionally ‘attached’ to a particular property.
I don’t know if I am a strong buyer, but I think I am pretty decent. I will certainly contact you, HLS, when I decide it’s time for me to buy.
Thanks,
Scarlett

[Scarlett]

[quote=HLS]Sorry, I was confused. If you know that you will qualify, what was the point of your post ??

Do you think that REO sellers don’t deal with approved buyers ??

The seller wants money. They don’t care where it comes from. They get their money at close of escrow regardless of whether it’s a cash buyer OR from a loan.

The seller has nothing to do with the amount of the buyer’s down payment. Most seller’s just want the highest price they can get.

I’m still confused by your original question.[/quote]

HLS, I was told and I got the impression that, for decent houses that are REOs or short sales, there are always multiple offers or bidding wars. And there are almost always buyers with a more solid offer cash-wise – i.e. 20% or more cash. And that the (seller’s) banks actually prefer less risk, than a little more money with more risk (i.e. less than 20% down). Not sure how true this last statement is. Do the sellers take the highest price, if it’s less than 20% down? That is why I was wondering about the chances with less than 20% down to be accepted when multiple offers.
I understand now I’ll probably have to come with a slightly higher price to make it more attractive, question is now how much higher. Sorry if I was not clear.

Thanks for all your input,HLS.

BTW, 6months ago I was qualified actually for 700K FHA loan with 5% down. 2 months ago, the broker wanted to update the qual and do 10% down conventional. By that time, I was convinced I didn’t want to buy then.

[Scarlett]

[quote=HLS]Sorry, I was confused. If you know that you will qualify, what was the point of your post ??

Do you think that REO sellers don’t deal with approved buyers ??

The seller wants money. They don’t care where it comes from. They get their money at close of escrow regardless of whether it’s a cash buyer OR from a loan.

The seller has nothing to do with the amount of the buyer’s down payment. Most seller’s just want the highest price they can get.

I’m still confused by your original question.[/quote]

HLS, I was told and I got the impression that, for decent houses that are REOs or short sales, there are always multiple offers or bidding wars. And there are almost always buyers with a more solid offer cash-wise – i.e. 20% or more cash. And that the (seller’s) banks actually prefer less risk, than a little more money with more risk (i.e. less than 20% down). Not sure how true this last statement is. Do the sellers take the highest price, if it’s less than 20% down? That is why I was wondering about the chances with less than 20% down to be accepted when multiple offers.
I understand now I’ll probably have to come with a slightly higher price to make it more attractive, question is now how much higher. Sorry if I was not clear.

Thanks for all your input,HLS.

BTW, 6months ago I was qualified actually for 700K FHA loan with 5% down. 2 months ago, the broker wanted to update the qual and do 10% down conventional. By that time, I was convinced I didn’t want to buy then.

[Scarlett]

[quote=HLS]Sorry, I was confused. If you know that you will qualify, what was the point of your post ??

Do you think that REO sellers don’t deal with approved buyers ??

The seller wants money. They don’t care where it comes from. They get their money at close of escrow regardless of whether it’s a cash buyer OR from a loan.

The seller has nothing to do with the amount of the buyer’s down payment. Most seller’s just want the highest price they can get.

I’m still confused by your original question.[/quote]

HLS, I was told and I got the impression that, for decent houses that are REOs or short sales, there are always multiple offers or bidding wars. And there are almost always buyers with a more solid offer cash-wise – i.e. 20% or more cash. And that the (seller’s) banks actually prefer less risk, than a little more money with more risk (i.e. less than 20% down). Not sure how true this last statement is. Do the sellers take the highest price, if it’s less than 20% down? That is why I was wondering about the chances with less than 20% down to be accepted when multiple offers.
I understand now I’ll probably have to come with a slightly higher price to make it more attractive, question is now how much higher. Sorry if I was not clear.

Thanks for all your input,HLS.

BTW, 6months ago I was qualified actually for 700K FHA loan with 5% down. 2 months ago, the broker wanted to update the qual and do 10% down conventional. By that time, I was convinced I didn’t want to buy then.

[Scarlett]

[quote=HLS]Sorry, I was confused. If you know that you will qualify, what was the point of your post ??

Do you think that REO sellers don’t deal with approved buyers ??

The seller wants money. They don’t care where it comes from. They get their money at close of escrow regardless of whether it’s a cash buyer OR from a loan.

The seller has nothing to do with the amount of the buyer’s down payment. Most seller’s just want the highest price they can get.

I’m still confused by your original question.[/quote]

HLS, I was told and I got the impression that, for decent houses that are REOs or short sales, there are always multiple offers or bidding wars. And there are almost always buyers with a more solid offer cash-wise – i.e. 20% or more cash. And that the (seller’s) banks actually prefer less risk, than a little more money with more risk (i.e. less than 20% down). Not sure how true this last statement is. Do the sellers take the highest price, if it’s less than 20% down? That is why I was wondering about the chances with less than 20% down to be accepted when multiple offers.
I understand now I’ll probably have to come with a slightly higher price to make it more attractive, question is now how much higher. Sorry if I was not clear.

Thanks for all your input,HLS.

BTW, 6months ago I was qualified actually for 700K FHA loan with 5% down. 2 months ago, the broker wanted to update the qual and do 10% down conventional. By that time, I was convinced I didn’t want to buy then.

[Scarlett]

[quote=HLS]Sorry, I was confused. If you know that you will qualify, what was the point of your post ??

Do you think that REO sellers don’t deal with approved buyers ??

The seller wants money. They don’t care where it comes from. They get their money at close of escrow regardless of whether it’s a cash buyer OR from a loan.

The seller has nothing to do with the amount of the buyer’s down payment. Most seller’s just want the highest price they can get.

I’m still confused by your original question.[/quote]

HLS, I was told and I got the impression that, for decent houses that are REOs or short sales, there are always multiple offers or bidding wars. And there are almost always buyers with a more solid offer cash-wise – i.e. 20% or more cash. And that the (seller’s) banks actually prefer less risk, than a little more money with more risk (i.e. less than 20% down). Not sure how true this last statement is. Do the sellers take the highest price, if it’s less than 20% down? That is why I was wondering about the chances with less than 20% down to be accepted when multiple offers.
I understand now I’ll probably have to come with a slightly higher price to make it more attractive, question is now how much higher. Sorry if I was not clear.

Thanks for all your input,HLS.

BTW, 6months ago I was qualified actually for 700K FHA loan with 5% down. 2 months ago, the broker wanted to update the qual and do 10% down conventional. By that time, I was convinced I didn’t want to buy then.

[Scarlett]

HLS, I was pre-qualified with Chase. For $500K loan with 10% down , or if I wanted only 5% down, an FHA loan; that was about 6 months ago. I have stopped looking actively so I haven’t updated my pre-qual. I don’t remember all the details, since I wasn’t too serious about buying, but I doubt I wouldn’t qualify now.

[Scarlett]

HLS, I was pre-qualified with Chase. For $500K loan with 10% down , or if I wanted only 5% down, an FHA loan; that was about 6 months ago. I have stopped looking actively so I haven’t updated my pre-qual. I don’t remember all the details, since I wasn’t too serious about buying, but I doubt I wouldn’t qualify now.

[Scarlett]

HLS, I was pre-qualified with Chase. For $500K loan with 10% down , or if I wanted only 5% down, an FHA loan; that was about 6 months ago. I have stopped looking actively so I haven’t updated my pre-qual. I don’t remember all the details, since I wasn’t too serious about buying, but I doubt I wouldn’t qualify now.

[Scarlett]

HLS, I was pre-qualified with Chase. For $500K loan with 10% down , or if I wanted only 5% down, an FHA loan; that was about 6 months ago. I have stopped looking actively so I haven’t updated my pre-qual. I don’t remember all the details, since I wasn’t too serious about buying, but I doubt I wouldn’t qualify now.

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