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Old 06-14-2018, 08:57 AM
 
Location: Dallas, TX and Las Vegas, NV
5,094 posts, read 3,795,520 times
Reputation: 10094

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Veteran of dozens of RE transactions here. My conclusion is that one simply cannot second guess sellers, or buyers either. As buyers, we view properties and maybe revisit some; and then we make our strategic offers or move on. Both buyers and sellers can be weird to us, and some will apply emotions to this business transaction that has personal elements to many buyers and sellers. Its always been in my best interest NOT to allow myself to engage in speculation about the other parties in the deal. Often, whatever the outcome, I will review my failings or successes for future applications. It does me no good to get upset or emotional during or after the completion of negotiations. If the deal doesn’t happen, its time to move on.....
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Old 06-14-2018, 01:53 PM
 
2,150 posts, read 1,160,328 times
Reputation: 4378
No one cares what kind of car you drive.

If you show up to a real estate deal asking for closing cost assistance and putting a very low or no down payment people are going to assume you don't have any cash.

Quack like a duck people are going to call you a duck.

If you are sitting on a mountain of gold and running around worry about a few grand of closing costs then that is on you.

Plenty of people think "oh I can borrow this much" and that some how equates to wealth. It doesn't. The seller only cares about closing the deal and your offer was weak. If you've been around real estate like you claim, you should already of known this.
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Old 06-14-2018, 06:56 PM
 
1,780 posts, read 882,155 times
Reputation: 3813
Quote:
Originally Posted by aridon View Post
No one cares what kind of car you drive.

If you show up to a real estate deal asking for closing cost assistance and putting a very low or no down payment people are going to assume you don't have any cash.

Quack like a duck people are going to call you a duck.

If you are sitting on a mountain of gold and running around worry about a few grand of closing costs then that is on you.

Plenty of people think "oh I can borrow this much" and that some how equates to wealth. It doesn't. The seller only cares about closing the deal and your offer was weak. If you've been around real estate like you claim, you should already of known this.
I am always amazed by the "well to do" posters who show up in this forum begging for a few thousand in closing assistance with some kind of piddly down payment crying in their pie when their offer is bulldozed for a better one. If you make a weak offer in a market that has any traction whatsoever expect it to get the thumbs down. So many experts here sitting on a Scrooge McDuck pile of cash but yet willing to take the bank's money like its some kind of badge of status. If you have the money to pay, make an offer that looks like you do. Otherwise, stop crying foul.
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Old 06-14-2018, 08:20 PM
 
595 posts, read 378,367 times
Reputation: 1021
Quote:
Originally Posted by emotiioo View Post
I am always amazed by the "well to do" posters who show up in this forum begging for a few thousand in closing assistance with some kind of piddly down payment crying in their pie when their offer is bulldozed for a better one. If you make a weak offer in a market that has any traction whatsoever expect it to get the thumbs down. So many experts here sitting on a Scrooge McDuck pile of cash but yet willing to take the bank's money like its some kind of badge of status. If you have the money to pay, make an offer that looks like you do. Otherwise, stop crying foul.
WTF said I was well to do? Not me. All I'm doing is looking to buy at 40% less than approved by my LO and leaving funds for other investment's. However I achieve that, quite frankly, isn't any of your effin concern.

You've made your point quite clear in the other thread of your disdain for the zero down loans, which this isn't.

Good for you in only dealing with cash and/or 20%-50% DP buyers. More power to you.
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Old 06-14-2018, 08:25 PM
 
595 posts, read 378,367 times
Reputation: 1021
Quote:
Originally Posted by aridon View Post
Quack like a duck people are going to call you a duck.
Quack, quack, quack..... time to fluff my plumage
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Old 06-15-2018, 03:14 PM
 
Location: Phoenix AZ
5,920 posts, read 10,471,285 times
Reputation: 9227
Quote:
Originally Posted by photogal9 View Post
WTF said I was well to do? Not me. All I'm doing is looking to buy at 40% less than approved by my LO and leaving funds for other investment's. However I achieve that, quite frankly, isn't any of your effin concern.

You've made your point quite clear in the other thread of your disdain for the zero down loans, which this isn't.

Good for you in only dealing with cash and/or 20%-50% DP buyers. More power to you.
I sold several houses over the past few years in a hot market - without fail, the most unreasonable buyers were those that claimed to have big piles of cash. The fastest, easiest deal, with the most reasonable buyers was the 3.5% down FHA buyer. The snottinest, grumpiest & least reasonable buyer claimed to have cash, and only wanted a mortgage for convenience. I had to bounce a couple of "golden buyers" who made unreasonable requests after locking the properties under contract. Definitely changed my perspective about which offers to accept & which buyers are too much trouble to deal with.
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Old 06-15-2018, 03:25 PM
 
595 posts, read 378,367 times
Reputation: 1021
Quote:
Originally Posted by Zippyman View Post
I sold several houses over the past few years in a hot market - without fail, the most unreasonable buyers were those that claimed to have big piles of cash. The fastest, easiest deal, with the most reasonable buyers was the 3.5% down FHA buyer. The snottinest, grumpiest & least reasonable buyer claimed to have cash, and only wanted a mortgage for convenience. I had to bounce a couple of "golden buyers" who made unreasonable requests after locking the properties under contract. Definitely changed my perspective about which offers to accept & which buyers are too much trouble to deal with.
That's interesting and thanks for your reply. The said property is now under contract with A/I contingencies. I would have put down less than them and waived inspection, conventional mortgage ( most condos are not FHA approved and I've never used that) but they chose what they felt was right for them, and that's ok.
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Old 06-15-2018, 04:27 PM
 
Location: Raleigh NC
7,798 posts, read 6,155,029 times
Reputation: 6913
serious question - if you're as well-versed on value as you are, why worry about an appraisal? Surely you know what the appraiser will say, and even if they're wrong ... you're offering what it's worth to you. And you have cash to bridge the difference
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Old 06-15-2018, 05:02 PM
 
595 posts, read 378,367 times
Reputation: 1021
Quote:
Originally Posted by BoBromhal View Post
serious question - if you're as well-versed on value as you are, why worry about an appraisal? Surely you know what the appraiser will say, and even if they're wrong ... you're offering what it's worth to you. And you have cash to bridge the difference
I was not concerned about the appraisal, the sellers agent brought it up. Recent sold comps were well in line with my offer.
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