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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: David Jones who wrote (1858)	2/23/2002 7:34:48 AM
From: Steve Lee	Read Replies (3) \| Respond to of 306849

Let me spell it out real plain so you can understand: 1) The seller advertisers with an agent. 2) I look at the property. 3) I call the agent and offer a low price. I tell him I have cash waiting and can complete the deal as soon as the paperwork is ready. 4) The agent is obliged to tell his client, the seller, that I have made an offer on his property. 5) The agent can advise the seller what to do but the decision is down to the seller. 6) When an offer is accepted, I pay cash, no mortgage involved. 7) Once I own the property, I get it mortgaged (sometimes for more than what I paid for it) to free up the capital for another investment. I'm sorry you think my method is suspect but I can't undo the deals now because you don't like them <g>.

To: David Jones who wrote (1858)	2/23/2002 4:26:52 PM
From: Tradelite	Read Replies (1) \| Respond to of 306849

Not to mention the fact that if a seller is willing to let his property go for half-price or even 20 percent below market value, he wouldn't bother with an agent. He'd simply put an ad in the paper, state that he's anxious to sell and has priced the house below market, and would probably have three or four offers on the table by 8 a.m. the next morning. At least two of those offers would be in writing and would include an earnest money deposit check. The remaining one or two offers would be thrown in the trash. <<gg>>