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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Bidding formula for foreclosures Posted by Nate on August 24, 2006 at 7:43 PM In Reply to: Re: Bidding formula for foreclosures posted by john wilson on August 24, 2006 at 4:15 PM : offer him $135,000. therefore you could do 100% financing. you'd split the remaining equity (too greedy is trouble). remind him of his alternative with the cost of the the broker ($9000) wouldn't get much more. : I'll do it with you and split the profit John, I guess that's more the question: HOW do I proceed in such a situation? I've done more the buy and rehab in the past, so this foreclosure situation is new to me. How did you arrive at $135,000? More importantly, what's the threshold? In other words, what if he owed $140,000 on the property, and it was only worth $165,000? When and what to offer or walk away, is more my question. thank you for the information Follow Ups: Re: Bidding formula for foreclosures Rick, the Probate Guy 9:59 AM, 08/25/06 (3) Re: Bidding formula for foreclosures Nate 8:31 PM, 08/25/06 (2) Re: Bidding formula for foreclosures Joe 9:57 PM, 08/26/06 (1) Re: Bidding formula for foreclosures john wilson 10:30 AM, 08/28/06 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : offer him $135,000. therefore you could do 100% financing. you'd split the remaining equity (too greedy is trouble). remind him of his alternative with the cost of the the broker ($9000) wouldn't get much more. : : I'll do it with you and split the profit : John, : I guess that's more the question: HOW do I proceed in such a situation? I've done more the buy and rehab in the past, so this foreclosure situation is new to me. How did you arrive at $135,000? More importantly, what's the threshold? In other words, what if he owed $140,000 on the property, and it was only worth $165,000? When and what to offer or walk away, is more my question. thank you for the information Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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