We Have Buyers

[2bohemians]

Ok, here is the scoop.
We are working with an Investor Group that is actively buying.
In fact, they just put in 4 offers with us this week on $1 million dollar plus homes. We have thoroughly checked them out along with our broker.
At this point, all is good and legitimate.
They are investors so they are slightly creative but not crazy.
Here are the basics of what they seek:

1. They will offer 65% of the Appraised Value.
2. The appraisal must be recent.
3. The offer may or may not be an assignment offer.
4. They will fully disclose the intent to find a 3rd party purchaser and their intent to make a profit. Also, they will fully disclose the exact amount of profit they intend to make.
5. After they receive the appraisal & survey and the offer is accepted, they have 30 business days to market the property to their buyer list.

If this sounds like something you or your customer would be interested in, please feel free to contact us and we can discuss things in greater detail.

Christine DeAngelis
& Racquel Morgan
Century 21 Beach Realty
850.420.3254 cell
http://www.buythegulf.com

 

[SHELLY]

Ok, here is the scoop.
We are working with an Investor Group that is actively buying.
In fact, they just put in 4 offers with us this week on $1 million dollar plus homes. We have thoroughly checked them out along with our broker.
At this point, all is good and legitimate.
They are investors so they are slightly creative but not crazy .
Here are the basics of what they seek:

1. They will offer 65% of the Appraised Value.

So did they offer $650,000 for the $1M homes? or was it $1M offer on a $1.34M home?


<slightly creative?>

 

[2bohemians]

On a $1 million dollar home, the offer would be $650,000.

This kind of deal is not for everyone --- however, if you really need to sell, it is another alternative.

 

[SHELLY]

This kind of deal is not for everyone --- however, if you really need to sell, it is another alternative.

Agreed.

But I would think the owners of a $1M home would stand a chance to unload if they dropped the price $650,000 without all the investor's creative "razzle-dazzle"--or is a 35% drop in (CURRENT appraised) "value" still not enuf to move the product in this market??


.

 

[2bohemians]

It's really not that creative .... they are basically just coming in with low offers and giving themselves 30 business days to locate a buyer from their pool of buyers. They also do financing so they have a chance to make a little on that end of the deal too.

 

[SHELLY]

It's really not that creative .... they are basically just coming in with low offers and giving themselves 30 business days to locate a buyer from their pool of buyers. They also do financing so they have a chance to make a little on that end of the deal too.

What happens if they don't find a buyer in 30 days??

.

 

[2bohemians]

If they do not find a buyer in the 30 days, most likely the deal is done. However, there is a chance they could decided to continue on with the transaction.

 

[2bohemians]

----- But I would think the owners of a $1M home would stand a chance to unload if they dropped the price $650,000 without all the investor's creative "razzle-dazzle"--or is a 35% drop in (CURRENT appraised) "value" still not enuf to move the product in this market?? --------


Believe it or not, many sellers are still operating off 2005 appraisals which have no validity in this market. Even the 2006 appraisals are questionable at this point. So you may see listings that say $300,000 Under Appraisal!!!! and then you find out the appraisal is from February 2005. These folks are just offering up another alternative to the traditional real estate transaction. And only time will tell if a 35% drop is enough to move product or not.

 

[Mango]

Should be called "Indian Givers Investment Group" .

 

[2bohemians]

Mango ---- that's cute. But honestly, these folks are simply offering up another option to sellers who are in desperate need to sell. It may appear that they are "indian givers" to some but to others they might just be their saving grace. At this point in the game, how many offers are people really getting on their homes today?