Funny Real Estate!

By
Real Estate Agent with Prime Real Estate

So I had quite the busy weekend topped off by a busy Monday because of course when you have a busy weekend you always spend the next two days catching up.  I have a rental so I get a lot of phone calls on that rental and I am always amused by some of the comments because as I have said before I always ask why they are renting instead of buying.

I had been working a double shift on the floor yesterday and it was quite a busy floor. Several typical phone calls asking about this house or that house.  Then there was the call on an REO that started out with the usual bedrooms? bathrooms/ square feet etc.. Then I explained to them that it was a cash only deal and the price was 18,900. The next question was do you think it needs a lot of work.  I said yes I am sure it does since homes in that area generally average 80-100,000. yes but I saw on tv people are buying great homes for pennies on the dollar. I said that the only homes going for pennies on the dollar are on tv.  Finished that call and then it was on to the next.

The next phone call I got was someone calling on another REO I went through all the paces and the price 49,700.  I explained to her that it was cash only and then she asked to make an appointment to see the property I said sure that I could show it to her at 1:30 the next day.  I then told her that I would need her to bring her proof of funds if she wanted to write an offer and she asked what that was and I told her a statement from the bank showing that she had the 49,000 available to purchase the home.  She then said that she doesn't have that kind of money and do I know where she would get it from. Taken back a bit I said what do you mean she said seriously where would I get the cash.  I said well people take it out of their bank accounts, trust funds or whatever the would need to.  She then said oh I don't have any of those so again she says where would I get cash. At this point I told her this was not the house for her and that maybe she needed to look at homes that could be financed.  It was at that point I was going to ask her if she had money for the down payment and closing cost but then decided not to go into all that and offered her the number of a couple local loan brokers.  I figured maybe she could ask them for cash LOL.

I can't wait to see what tomorrows phone calls bring.

Posted by

Valarie Kubacki

Prime Real Estate

(219)405-0577

www.nwihomes4sale.com

Serving all of Northwest Indiana

Porter County, Lake County, Jasper County, La Porte County, Newton County

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Rainer
27,508
Diane Lynch
Realty Executives Premiere - Warrenville, IL
Real Estate Broker

You mean you need MONEY to buy a house? LOL....

Jan 25, 2011 02:56 PM #1
Rainmaker
1,317,476
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

This is most interesting. Keep us posted.

Jan 25, 2011 02:57 PM #2
Rainer
52,622
Joyce Herr
Prudential Lancaster Real Estate - Lancaster, PA
Lancaster County & Beyond

My thoughts exactly - as Diane's. What are people thinking!

Jan 25, 2011 02:59 PM #3
Rainer
247,800
Gerard Gilbers
Higher Authority Markeing - Asheboro, NC
Your Marketing Master

You mean a cash deal means MY Cash! LOL  This will be an interesting transaction, if she comes back!

Jan 25, 2011 03:04 PM #4
Rainer
35,189
Valarie Kubacki
Prime Real Estate - Valparaiso, IN
Broker Associate, CDPE - 5Star

I have learned also that when I ask them if they have their financing in place to ask who they are going through.  There was that wonderful customer when I had just started that I asked if they had their financing in place, they said yes, I set up a showing and got there and sure enough if they didn't have one of those how to buy a home with no money books.  I am so careful now how I ask about their financing situation and nail it down now.

Jan 25, 2011 03:05 PM #5
Rainmaker
441,513
Rose King
David Tracy Real Estate - Friendswood, TX
Friendswood / Pearland / Houston Bay Area

It's amazing what crazy ideas people have about buying a home!

Jan 25, 2011 03:36 PM #6
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Rainer
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Valarie Kubacki

Broker Associate, CDPE - 5Star
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