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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] VRM and void trustee's sales.. Posted by Ward-CA- on June 09, 2003 at 9:06 AM In Reply to: VRM and Chapter 13 BK posted by ken on June 08, 2003 at 9:05 PM : Hi, Ward, I am looking forward to hearing you this month and to, hopefully, meeting you in Huntington Beach. : I have a couple of unrelated questions in the meantime: : 1: I understand that Variable Range Marketing (VRM)is offering a property for sale within a range of prices...say $100-120k. Butwhat is the practical use of this pricing? : 2: If an owner's filing a bankruptcy in Chapter 13 a couple of days before a trustee sale of a property forestalls the effect of the sale of the property (for the time being), where does that leave the hapless "winning" bidder and his money? : Thanks, Ken =•=•=•=•=•=•=•=•=•=•= Ken, #1. The main point of VRM (Variable Range Marketing) is to attract the attention of a lot more potential buyers than you would with a standard, fixed sales price. Let’s say you have a property you really want to sell at $215,000 or more. If you advertise it in the MLS at that fixed price point then all the buyers wanting something below that number, let’s say down to $185,000, won’t pop up on their Brokers’ MLS printouts since they’d be topped below your $215K price point. But if you had a variable range price spread from $185,000 to $215,000 your listing would show up on every buyer’s broker list between $185K—$215K. You’d get an extra 20+ more buyers looking at your property and out of those extra showings your probability of selling your property jumps dramatically. #2. Once a trustee who conducted a trustee’s sale learns that their sale is void due to a preceding bankruptcy filing, they will cancel their sale and give the winning bidder her uncashed checks back. Hope this helps. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Hi, Ward, I am looking forward to hearing you this month and to, hopefully, meeting you in Huntington Beach. : : I have a couple of unrelated questions in the meantime: : : 1: I understand that Variable Range Marketing (VRM)is offering a property for sale within a range of prices...say $100-120k. Butwhat is the practical use of this pricing? : : 2: If an owner's filing a bankruptcy in Chapter 13 a couple of days before a trustee sale of a property forestalls the effect of the sale of the property (for the time being), where does that leave the hapless "winning" bidder and his money? : : Thanks, Ken : =•=•=•=•=•=•=•=•=•=•= : Ken, : #1. The main point of VRM (Variable Range Marketing) is to attract the attention of a lot more potential buyers than you would with a standard, fixed sales price. : Let’s say you have a property you really want to sell at $215,000 or more. If you advertise it in the MLS at that fixed price point then all the buyers wanting something below that number, let’s say down to $185,000, won’t pop up on their Brokers’ MLS printouts since they’d be topped below your $215K price point. : But if you had a variable range price spread from $185,000 to $215,000 your listing would show up on every buyer’s broker list between $185K—$215K. You’d get an extra 20+ more buyers looking at your property and out of those extra showings your probability of selling your property jumps dramatically. : #2. Once a trustee who conducted a trustee’s sale learns that their sale is void due to a preceding bankruptcy filing, they will cancel their sale and give the winning bidder her uncashed checks back. : : Hope this helps. Optional Link URL: Link Title: Optional Image URL: [ 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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