Bank Says Send An Offer - Need Help
Just got off the phone with a out of state bank (REO dept). Asked me to send an offer. The property is multi-family, 3009 sq ft, 6 units. Property caught fire, and is in pretty bad condition.
This is a first time for me. Where do I begin? I do know that one other indiv. (or company) has or is going to put an offer on this property as well. thx.......all
Mark,
I would get a couple of contractor friends to write up bids to fix the property. Write your letter to the bank with your offer and present these bids as part of your documentation for price you are asking. If you have good credit and want to have the bank carry your loan (instead of somewhere else), then include a copy of your credit report and ask them to carry the loan as part of the offer. Also include in your letter how soon you can close as every days costs them money.
HTH,
Robert
[addsig]
The property has a 10 ft gate all around it. Up to now, they've been vague and even contradictory with any info. I do now have a contact that has been helpful. I will contact again.....