Offer On Citibank 2nd
Citi has the 2nd balance of 16,000 1st is foreclosing in 2 weeks with a balance of 210,000. It appears citi is not going to persue. I made an offer of 2k and the refused stating it would cost more for them to process. They countered at 8k, what should i do? Will they accept less?
Quote:
On 2006-05-18 12:18, jllaco wrote:
Citi has the 2nd balance of 16,000 1st is foreclosing in 2 weeks with a balance of 210,000. It appears citi is not going to persue. I made an offer of 2k and the refused stating it would cost more for them to process. They countered at 8k, what should i do? Will they accept less?
counter at 4K
how much room do you have in this deal?
made a counter offer yesterday of $3800, will post an update.....
You can sell if for $230,000 to an investor and make a quick $12,000.
If you purchase the 2nd for 8K (or any agreed upon amount) does this stop the foreclosure process, or simply delay it until you payoff the 1st? What steps do you take after the 2nd is purchased?
Thanks,
Jeremy
they refused my offer of 3800 so I went to their office with my 17 month old daughter and they accepted an offer of $5,000, more than I was hoping to pay but still a good deal for me!
first I went to the house, it looked vacant so I tried searching for some phone numbers...eventually that lead me to a new address. I left a note and 3 or 4 days later received a call from the sister of the owner in MI and I was in GA. The wifes old address is where I left the note, she had already moved to PA but a neighbor found the note and called her and inturn she called her sister in-law. Since they had abandoned the house, getting something was better than nothing. A lot of good luck involved for sure!!
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http://www.thecreativeinvestor.com/residential/modules.php?op=modload&name=Forum&file=viewtopic&topic=47375&forum=18[ Edited by happyhome on Date 06/02/2006 ]
the best thing to do is to start a relationship with a title company and let them do it for free.
I have them done all the time. You just have to make sure you use them to close your transactions with.
This is not an area that you want to save money on either
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