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Nesgroup address: misc.invest.real-estate - Date & Time for the message: 03 Feb 2005 14:39:08 GMT /

Author of the message: jrf30@aol.com (JRF30)

Title of the message:
Re: making low offers - annoy realtors?

Text of the message:
<<Do you think he might be inclined to lie to a seller about the value of
his property, because he is going to get an extra piece of the pie?

>>

No, the deals we do are foreclosure or pre foreclosure.  If someone is in
trouble and about to hit the courthouse steps, and the loan is low enough to
allow some profit, we buy the house from (him) for $1,000 more than the loan
amount.  He gets out, gets $1,000 to move versus getting nothing if it hit the
courthouse steps, and he saves some of his credit too.  Is it worth more?  Yes.
that's why we buy.  But, if it is going to hit the courthouse 72 hours later,
he is not going to GET that value anyway. It's not like he can list it with a
realtor and get more.  We help save his credit and also give him a little
spending money.  BUt, most of the time we buy AT the courthouse steps, so we
don't even SEE the seller. Not very many pre foreclosurs.  Only foreclosures.



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