They asked us to submit an offer!

They asked us to submit an offer!

So this is a pending deal but I thought I would share since it has an interesting twist.

About a month ago I had my Agent submit an offer on a property that needs a lot of repair. We're talking 50,000 in repairs! I offered $46,800 and the property is valued at $153,000. The bank countered at $93,000, and it was listed at $98,000. I told my Agent to kindly reject the counter and let the agents know that should they reconsider to contact my agent.

Last week my agent called and said they would like us to submit a new offer! We resubmitted at $41,600 (I lowered my price due to an increase in holding costs and market prices).

4 bed 2 bath ranch home in Loveland, CO built 1953

I'll post updates as soon as I have them...

How cool is that!


Sounds like you may have

Sounds like you may have come up on a deal here. What exit strategy do you have in mind for this property? Good luck to you Smiling



~Act successful! And you'll draw it to you.~
~Every achievement, big or small, begins in your mind. It starts as a thought.~


Sounds like a great deal! We just recently had a similar deal but will be closing on it tomorrow. We will post more details once we get title on the property as it is a very exciting transaction and equity. Good luck!


Tom and Jeri

It's worth a shot

The worst thing they could say is no. $50k is a big price drop, too. Let u know what happens!


I will be watching to see how it goes; good luck with it!!

__________________ website FREE SOFTWARE FOR WHOLESALERS, REHABBERS AND AGENTS! Present professional looking deals to buyers and lenders as well as run your numbers and get the ROI.

What are your plans?

Sounds like a good deal! Are you going to wholesale, fix and flip, or buy and hold?



"If God is for us, who can ever be against us?" Romans 8:31 NLT

Way to deal

Hopefully you will have a deal on the way. Sound promising. Keep us posted.


the banks will do that if they don't get any offers, or if their only offer doesn't go through.
Don't be surprised if they come back and say that they will accept your prior offer of $46,800...
if they do accept your offer, what will you do with the property? where will the EM come from?

Keep us posted!

wishing you success,



“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss

"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown

My journal:

Very Strategic Move

Acting like the Thinker in action. Looking forward to the outcome of this transaction. Fingers and toes crossed for you.



"You can never get to the top, if you are not willing to climb. Do not look at the difficulty of the climb, only anticipate the view from the top."
"Can't even walk without you holding my hand." (Song)
"Is anything too hard for the Lord ..." Genesis 19:14
"In all things, wait on the Lord."
"Think not of your own deliverance, but trust in God who will give in abundance."
"When you are down to nothing, God is up to something." Unknown
"Our lives begin to end, the day we become silent about those things that really matters." Dr. Martin Luther King Jr.

O Goody !

Bet they're gonna take the $41.6 Smiling


Peace,Love and $$$
Angie Smiling

Exit Strategy

I have a couple buyers who are active in the area, I plan to wholesale the deal to one of them. But the property has a little more repairs then their preferred deal. So I'm also looking into hard money to do the deal myself if needed.

The property just recently became part of the city and now is required to be tied into the cities sewer. So that adds extra time and about $35,000 to the deal.

So here is a quick breakdown:

$46,800 - purchase price
$35,000 - remove septic and connect to city sewer
$20,000 - budgeted for repairs (Paint, landscaping, siding repair)
$9,000 - budgeted for holding cost (6 months)
Everything has been over budgeted just in case.

$110,800 Total

$153,000 90 day sales price ($22,950 selling cost, $19250 Profit)

$135,000 to $140,000 30 day sale ($20,250 to $21,000 selling cost, $3,950 to $8,200 profit)

I've got ten days after the offer is accepted to come up with the $1,000 earnest money. (no clue on how I'm going to come up with that if I do the deal)

Bank Countered

Bank just verbally countered at $89,000 and asked us to counter. Told my agent to counter but not to go above our original offer of $46,800.

Wish me luck!

How did your deal go?

TomAndJeri wrote:
Sounds like a great deal! We just recently had a similar deal but will be closing on it tomorrow. We will post more details once we get title on the property as it is a very exciting transaction and equity. Good luck!

How did your deal go? Hope it went smoothly!

Keep on the edge of the seat

Hi we need to know the out come of this thriller, Jim




jbischoff wrote:
Hi we need to know the out come of this thriller, Jim

By the way I'm rooting for your side! Smiling This is more like a comedy thriller though.
Bank: 89,000 dollars! You: Okay, maybe 42,000, but don't go above 46,800.



"Remember, success is a journey, not a destination.
Have faith in your ability."
Bruce Lee


They dropped the asking price from 93K to 48K and are asking for our highest a best offer. last offer was at 46,800.

Do i stick to the 46.8K or offer the asking at 48K? They have multiple offers in at the moment.

Dont go to 48k. Go to 46.9K

Dont go to 48k. Go to 46.9K and only $500 earnest money deposit. Best and Final Offer.

To Late :(

I already offered 48K. I'm waiting for a response....

My guess is that they will

My guess is that they will accept your offer. Just have to wait and see. Good Luck!

Rejected :(

The bank rejected our offer, they stated they received a much higher offer. Oh well, on to the next deal Laughing out loud

well sorry to hear that.

well sorry to hear that. Maybe that was for the best. keep your chin up. on to the next one....

Keep your ears open...

They could be stringing you along for more money. You were offering in the $40K's a while ago and NOW it turns them off? Could be a done deal with someone else, but it could just as easily be a bluff. Bluffing's not illegal, so don't be surprised if they try it. If it becomes "available again" (by some strange coincidence), pull out your bat and drop down to $32K. If you drive by, and the city's working on it for someone else, you can probably bet you didn't want that one anyway. On to a better one! Laughing out loud


Paul: "I must not fear. Fear is the mind-killer. Fear is the little-death that brings total obliteration. I will face my fear. I will permit it to pass over me and through me. And when my fear is gone I will turn and face fear's path, and only I will remain."

Duke Leto: "I'll miss the sea, but a person needs new experiences. They jar something deep inside, allowing him to grow. Without change something sleeps inside us, and seldom awakens. The sleeper must awaken." - "Dune."

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