… I saw the auction notice on the door this morning. The house has been vacant for about 4 months. I called them back in January and it seemed like they were somewhat interested. I tried to get a hold of them several times after that, but to no avail. Then one day, they left a message on my machine not to call back. Obviously this house will be lost to auction in about 3 weeks. I’ve actually found their new address plus the business that they operate. How far do you think I should push my luck in trying to get in touch with them to buy their house?
If they said not to call, I would respect their wishes. They clearly have your number since they called you. If they change their mind, they’ll call you.
Hmm. Possibly. They left that message back in February, though. They most likely threw it out about that same time. I’d much rather buy this house on a short-sale than an REO in 2-4 months from now.
chuckle Somewhat. More like motivated method of buying. I know that I can buy the house on a short-sale. I don’t know if I can buy it as an REO. Someone else undoubtedly will be able to buy it REO and make the nice profit that I could have made had I bought it on short-sale.
Dean - this is a mute point. If they told you to not contact them, than you don’t have any right to contact them. Even if you think you can help them. This is no different than you telling a telemarketing company to not call your house again. You wouldn’t like them calling you again in a few months because they think they really have a good deal for you, would you.
I would monitor what happens with the house. Go to the auction - you may be able to buy it there. Or wait for the REO…
In one market I am watching, the REOs are being listed for about 30% less than it would have cost to outbid the bank at the auction. There still aren’t many buyers at that price.
Hmm, nods I can see what most of you are saying. However, I’m not trying to buy it for the sake of buying it. I know where my cut-off numbers are and I won’t go beyond those. As an REO, it will very likely be quite a bit above my cut-off numbers. At the 30%, though, it would be a totally sweet deal for my primary residence. I am planning on selling my primary residence now that I’ve finished the basement, and If I can just get this house sold, then these REO’s would be perfect. As investment properties, they are not sweet deals when bought REO. At least none that I’ve found yet.
As J said above, this is really a mute point. You have been told NOT to call them. Per law, you MUST respect that. They could actually sue you if you continue to call them.
Man, you sound like you should get a career in bill collection. Seriously. That way, if you attempt to collect from me, then I send you a cease and desist letter, and you still contact me, I can sue you for violations. Aint life grand?
