Hi Gang,
I’m high bidder so far on a FSBO who is using the Bill efross 5-day system. I need a Flash or Transitioal funder like Coastal-funding or others. Question is how soon do I request the POF or do I wait 1-2 days before closing??? This just fell into my face and yes I wasn’t ready. I’ll need to find a buyer ASAP. My high bid was 82.5K on a 150K plus home. Maybe I should have asked how long the POF is good for? Now I’ll go to Coastals site. Thank You, Herbster.
How do you know the property is worth 150k?
What was the asking price for the house because you may have needed to bid lower than that.
Why didn’t you line your buyers up first?
Usually transitional funding can fund in as fast as 24hrs to a couple of days notice, but you have to have an end buyer to get the money. You don’t need to worry about asking them for the money until you get an end buyer. Solve that problem and then worry about making your funding request.
Its more than worth the money, I know all the area past sales for a year.
No buyer yet because like I said BOOM there was the opertunity.
Your third sentence was what I was looking for,
Thanks.
I’m still in the deal but since I haven’t found a buyer I’ll probably have to fold. Bummer unless a money friend wants in.
Thanks, Herb
Thanks but its no longer an issue. Herster
Herbster,
What happened to your deal.
Did it fall through??
It went way to high for me to profit. I wanted to buy on a deal and sell on a deal. I won’t be caught with my pants down again, good lesson learned. BTW that 5-day sell technique worked pretty well for the sellers. Herbster
What is the 5 day technique?
Its a book by Bill Efross, you’ll have to google it or wait for someone else to give you the web site. It might be available at your library. Herbster
herbster, I might be able to help you with a buyer if you need some help. I have a list of buyers that might be interested.
You have list of buyers in SW MI.??? If so pm me and we’ll talk. Thanks,Herbster