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.