Crazy Investors who Hang You Out to Dry

Good morning, Ginny.....dealing with investors is not the same as dealing with a potential client who will be living in the property.....there is not emotion....there are no feelings of anything except, grind it down and the get best deal....it's always a chance a listing agent and seller will take when dealing with an investor.....nuts and bolts.....bottom line numbers....no emotion....always looking for the better deal.....and they'll kick you to the curb after tying you up for weeks....unless the seller is desperate, I would have cut the lace off his panties and let him run at the first sign of not cooperating...always leave an out for the seller when dealing with an investor, in today's market....investors have too much to choose from.

Morning Ginny-I have seen this more with forclosures. Investors making multiple lowball offers all over town, getting them then picking through and discarding contracts during inspection periods. Not fun!

Yes, I can see these investors being challenging to deal with at times.  Smart to have back up offers.

Ginny - good post. I have not seen this first hand with short sales, however, I think we have all dealt with the saavy buyer who is amazed at how much documentation they need to provide and how quickly.

Good morning, Ginny. Good that you had back-ups. One never knows in this economy what will trigger some folks reluctancy...

Good morning Ginny,

You are one smart cookie for having back-ups in the pipeline..tells me you look after your seller's interests! It's tough with an investor..Barbara laid it all out..no emotion..so much inventory to choose from..it's the bottom line for them all the way..their bottom line :).

Hi Ginny, Have a backup plan is the way to go. Many investors are looking to buy a home for far less than the value. This way they can "flip it" with out the worries of making anything on the sale end of the transaction.

Best, Clint McKie

Ginny, I have seen a couple of buyers that were like this as well!     With the economy, it shows the different colors of buyers!    Good luck my friend!

Ginny, investors are no different that any other buyer that's trying to get a deal. Their focus is on themselves and unlike the owner occupied buyer, they are looking for the maximum profit. As Barbara points out, when they stop responding, then the warning is there.

Another advantage to working with a seasoned-pro.  You recognized the warning signs and had the back-up offers in the wings.  

At least you received the withdrawal Ginny.  Some offers are so laughable they regularly ask the question, WWCKD?  What would Colonel Klink do?  Years of fun yet to come!

Ginny - One must really be careful looking at offers from investors, the best prevention is to have a back up. It pays off when sellers hire a North Kingstown short sale agent, like Ginny Gorman who has experience to see the faults an investor can bring.

Usually when someone say they never had to do it like that before, it's because they never even did it once before. You're the first.

Good points investors can great but some are just real pains

Yes investors can be difficult. I recently had an investor who took an option on a short sale. ???? Yes, well the bank gave them 30 days to close and when we could not re-sell it for them in 30 days, they pulled out of the deal. Basically, they never had any intention of closing unless they had the end buyer.  I deal with investors almost exclusively, so this was not a surprise to me. However, these people never had any intention of closing.

Yeah its tough now a days and dif u need back ups in ur pipeline or they go bye bye

thank you very much for the informative and interesting post. I get so much out of the active rain network.