[Alvito Silveira]

Alvito Silveira

I have a REO under contract ARV 120 K repairs 15 K purchase price 66K. Hedge funds are very active and housing inventory is 2 months. the house is located in very good school district. I wanted to renegotiate the purchase price to 62 K. how and when can I do it at the closing table or before?

[Jackie Lange]

Jackie Lange

is $4k worth losing the deal? A hedge fund would gladly pay $66 for the property and may even have a back up offer presented.

Why should the bank sell to you for less?

what will you use to justify the reduced price? undiscovered repairs? hidden defect?

best to wait until you are at the closing table or 24 hours before.

[DON WEDE]

DON WEDE

My felling and experience is that if you come back with a lesser offer you had better be ready to walk away from the deal if you don’t get it. If not, if you plan on doing future business with this party, or the word gets out you are a bluffer it can hurt your reputation. I agree, is 4 K worth loosing the deal?

Don Wede

[Alvito Silveira]

Alvito Silveira

You guys are right, thanks for the advice.