Let’s hope this goes through
June 1st, 2006 by KenricSFH#1 has opened escrow (I think) and the inspection is scheduled for tomorrow morning. I don’t think they’ll find anything wrong because the previous buyer had an inspection and I fixed even the little nit picky stuff. In any case, the escrow money isn’t refundable due to inspection anyway, but if they do find something drastically wrong I’ll fix it.
I started my quest to find a good deal here. Since I know new construction I decided to visit a builder and see what was available. The builder had 4 houses that were pretty much complete and offered a quick close (June 30th). The builder was offering 3% off the purchase price and either $20,000 off that price or great financing terms (30yr fixed at 5 1/4%). Overall, not a good deal at all. The houses in this subdivision were about $380k for 2200sf.
On the craigslist ad, I didn’t get any good leads from it so I decided to put another ad on there and make it more specific. Here is my ad:
“If you are selling a new Pulte Hummingbird model please email me, I am willing to pay $380,000 for it and can close in 3 weeks. My second preference is to purchase a single level home in ww subdivision. My requirements are: 2500sf, 3/2 no pool or 2100sf 3/2 w/pool. If you have a home that meets these criteria please email me. I think I’m offering a fair price as these homes go for around $430k with realtors and 6% commission will bring you down to $400k if you get a full price offer. $380k is only $20k under your asking price! No buyers realtors please. ”
Tomorrow I’m going to go to the sales office and see if they know of any investors who will be flipping once their house is done. If I can contact them and offer them a for sure $20k profit without them making one payment I hope one will take it.
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