Quote:
Originally Posted by ellipsis212
buying a home with cash is extremely rare.
but still, bringing a suitcase full of $100's to each appt lets them know you are serious. what lets them know that you are even more serious is that you have cutouts in the bricks of hondos for 2 platinum-plated Desert Eagles with your name engraved in them.
this will buy you some negotiating power.
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Lol
From my experience, it's best to deal directly with the selling agent for an REO
The agent will get double the commission, so s/he is more willing to push your offer through
In the past, I've had agents 'forget' to submit a higher offer since with my offer, she would make much more money than the other offer.
This will only work if the agent is experienced and doesn't mind the risks.
Usually helps if they're Persian or Armenian.. at least here in LA.
I just put an offer in for some land with the selling agent and she specifically told me what other offers she had. Listing was at 80k, valued at 130k, i offered them a nice lowball at 45k and she's pushed it through.
Go to Open houses and meet with the agents directly
Or, if you have a friend who has access to MLS, you will be able to get all the information you need.
Good luck
but don't try renting out the other 4 rooms... not a good idea
i wish we could get a 5 BR 3k sq ft house here for 200k.. that will cost you 700-1mil+ over here..