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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] I can't believe it! Posted by Tom on September 08, 2008 at 7:24 AM In Reply to: Rodent Conspiracy Theories... posted by Rick, the Probate Guy on September 07, 2008 at 3:49 PM Thanks Rick for selection into the club. I’m proud to accept. Actually it’s not such a strange marriage. We’re both dismayed by the “investors” on this board who are flying by the seat of their pants. For my acceptance speech I want to stress education, education, and education before you invest. Education pays for itself in two ways: (1) It helps ensure that investors don’t make any costly mistakes eliminating profit or creating a loss; and, (2) they’ll find that they’re making more profitable deals. A seasoned investor such as Rick or Ward should make considerably more profit an inexperienced investor makes on the same deal. For those who haven’t read the Cliff’s Notes version of short sales. The minimum bid will always be lower than any short sale approved offer. Lenders accept SS where its presents a clearly better alternative than foreclosure. An offer of 10% above the expected minimum bid is extremely problematic. Without knowing the details I’d guess the chances were < 10% of acceptance. Had Hamster’s bid been an additional five percent his offer probably would have been accepted. Hamster still could have bought the property at the TS provided he had the financing dominos lined up Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Thanks Rick for selection into the club. I’m proud to accept. Actually it’s not such a strange marriage. We’re both dismayed by the “investors” on this board who are flying by the seat of their pants. For my acceptance speech I want to stress education, education, and education before you invest. Education pays for itself in two ways: (1) It helps ensure that investors don’t make any costly mistakes eliminating profit or creating a loss; and, (2) they’ll find that they’re making more profitable deals. A seasoned investor such as Rick or Ward should make considerably more profit an inexperienced investor makes on the same deal. : For those who haven’t read the Cliff’s Notes version of short sales. The minimum bid will always be lower than any short sale approved offer. Lenders accept SS where its presents a clearly better alternative than foreclosure. An offer of 10% above the expected minimum bid is extremely problematic. Without knowing the details I’d guess the chances were < 10% of acceptance. Had Hamster’s bid been an additional five percent his offer probably would have been accepted. Hamster still could have bought the property at the TS provided he had the financing dominos lined up [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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