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Pre-Foreclosure Question

cmoore profile photo
  • Monday, December 09, 2002 @ 11:22 PM EST
  • 3 Comments
Hello All, I have a question that puzzles me. If I found a piece of property for 110,000 that had comps at 220,000 in foreclosure with a scheduled date of sale. I get a QCD, and try to sell to another investor (flip for profit). After divulging the property info to the other investor, why would he not just wait for the sale at the courthouse and cut me out, probably saving a few thousand - depending on the final bid? Thanks in advance, CMoore :-S
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  • DerrickAli
    DerrickAli9th December, 2002
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    CMoore:

    Maybe because HE like YOU see the VALUE of the deal...
    AndWhy not LOCK DOWN ON IT NOW...Instead of the chance on YOU (cuz You've Got CONTROL of It) SELLING IT TO ANOTHER RE INVESTOR!

    Ya Think?

    DERRICK

    [addsig]

  • 9th December, 2002
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    Also properties at auction go for somewhere atound 80% (in my area). You are giving him a chance to get in lower than that, without the hassle of an auction.

  • cmoore
    cmoore9th December, 2002
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    Thanks all,
    After reading your comments, and thinking more about this, that would be pretty a risky gamble to wait for the sale date. Thanks again,

    CMoore

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