Thought I'd post the status of some of my outstanding offers as well as some prospects:
Offer #4: Pending. Submitted bid for $77k, bank countered at $99,900. I still need to run numbers to see if I can go higher than $77k, but I don't think so.
Offer #6: Inspection completed with no major problems found. Repairs estimated at $550+tax. Waiting for HUD on gas situation. No word on progress of financing. Estimated close date: late April.
Offer #12: Pending. Offered $190k, and bank countered at $247.5k. I believe $196k was my MAO, but I need to rerun the figures. Either way, I'm not sure how I would finance this even if I got it for $190k. :-/
Offer #17: Need a $1,000 cashier's check, since it's a HUD. Bidding for investors opens on Monday.
Possibility #1: Pending. Sent preliminary offer to listing agent with a higher purchase price than he's asking, but with my terms. No reply yet.
Possibility #2: Hud - Opens Monday. Need cashier's check. Looks in good condition, but have not physically assessed it myself. Kind of high asking price ($106k) for me right now.
Possibility #3: Hud - Opens Monday. Same as with 'Possibility #2', except list price is $103k.
Possibility #4: Hud - Opens 03/28. Same as with 'Possibility #3'.
Possibility #5: Hud - Opens 03/28. Same as with 'Possibility #3'.
Possibility #6: Hud - Opens 03/28. Need cashier's check. Needs a lot of work, which means I could be up against other investors heavily. List is $68k.
Possibility #7: Hud - Opens 03/28. Same as with 'Possibility #6', except list price is $60k.
The last two 'Possibilities' could really work for my right now in my current financial condition. I can borrow a good portion of the cost, and make up the difference in a small conventional loan.
Friday, March 18, 2005
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