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Posted by LeeAnn on June 30, 2005 at 11:32:53:
In Reply to: Re: house listed no bites for short sale posted by Bill H on June 29, 2005 at 01:51:53:
The reality company put considering any bid with the listing. I dont care what the mortgage company wants if they forclose they can sit on the house like the other 4 on our street after I strip it down. We just went with 99k to get interest so maybe someone would make an offer even if it is 90k.
The only feedback we have got is they don't want to do any work. It needs a new kitchen (very dated and in disrepair) and a new bathroom floor the rest is just paint except it has alluminum siting still.
Out of all the junk we got in the mail when the mortgage co filed none were looking for homes they were all just trying to get more money from us. I was just trying to get some ideas from some of you. So lowering the price seems to be the idea if the mortgage co does not take a lower bid, oh well I will be in court.
: The numbers do not add up for an investor to be interested. To buy a house in "Bang up Conditions" as you say for 99K leaves no room to sell and make any $$$.
: The 25 showings indicate that 25 people found the house to need more repair and TLC than would make it worthwhile for a new home owner to come in and take over and do...let alone an invetor trying to make a living doing the re-hab and recondition and then selling.
: A short sale to be interesting to an investro must leave room for them to do the rehab and recondition and make a reasonable profit for their time, effort, $$$ and energy.
: Investors are in this business to make $$$, not to accomodate you and your mortgagee. If it does not make sense and $$$ they cannot afford to do it. Simple as that.
: Good Luck,
: Bill H
