Missed Oppertunity Gripe Thread - Share And Vent
Well about 30 min ago I was going crazy saw this 2176 sq ft house built in 1977 with 4 bedrooms 2 bathrooms Fireplace in a good neighborhood listed for 89900 a fantastic buy. I did a record search and sure enough a mortgatge lender was making the tax payments and it was assesd at of 120k for taxes - marketable at more like 140. So I called and the sale was closing today - #!^#@%^!$@ . Anyway I had to vent and if anyone else has some stories to share I think it could help. I now am checking our MLS daily - no exceptions, gotta learn from those mistakes in additon I am going to take the lender parcel and other info to the courthouse to see what exactly was filed so I know in the future to get a jump on these - Learn from mistakes.
Well, well, well, I think we all have some stories. Here is ONE of mine.
House in foreclosure. Tracked owners down from Florida to Texas. They had declared bankruptcy. They told me I could have the house. First mrtg at 100K, second at 26K. Talked to the owners attorney and he said bankruptcy already dismissed, call the banks. I called the banks, they said I had to have clearance from the trustee. Call the trustee, they give clearance. Banks now say they need 30 days. House due to auction in 14. House was worth 160K. Too many people at the courhouse, and it sold for 130+K. And, the house didn't need any work. None. I obsessed about this for a few days. Now I move on immediately. Too many more properties out there.
Do you feel better?
It helps, I keep telling myself that it had a wood fondation needed new siding a bad roof and an infestation - that makes it a relief that I didn't get it. Even though I doub't that it was even half that bad.
Ooooooooh man, been itching to get this off my chest!
So, I recently saw a 1.8 acre lot with a realtor's sign on it. They had one offer at $237k. Some strange thing that I had the opportunity to submit an offer to the peculiar agent. Apparently, they had been jerked around by the other buyer and were open to explore other offers... mine.
I made the offer of about 10k more, pending subdivision issues.
I could have built a cul-de-sac and put 3 homes at about 485k each. Spend about million, make about 1.4 million. I had engineering documents, I met often with my builder, found a great construction loan person.
So, long story short: I check in with the agent to see what the sellers thought, she used inaccurate language, I had to ask if they were back under contract directly, she had to say yes. I doubt she ever even showed it to them, I doubt she realized how prepared me and my team were, WAHHHHH!
I ran spreadsheets for at least 10 hours on the whole project, did everything but commission the civil engineers to begin subdivision.
Oh did I mention that I can almost see this area from my house! I could have been project manager for my builder some of the days for little stuff. What a reminder that'll be when I have to watch someone else making $300k profit!!
THE ONE THAT GOT AWAY!!!!!!!!