We’ve received ELEVEN offers on our new listing at 7114 Columbine!
The five cash buyers have declined to go any higher, so the six financed offers will be competing today for the win. We sent all of them a highest-and-best counter with a 4pm deadline today. Meanwhile, any other agents who want to show and sell are encouraged to do so – we don’t stop the showings or offers, like most agents do.
We’re already $100,000+ over the list price!
Offer #11 came in this morning:
Good Morning Jim,
Hope you’re having a good week so far. I was able to check out your listing on Sunday, thanks for making it easy access. We are an investor buyer, and purchase with Cash, no loan of any kind. I had a chance to run numbers. Looks like we are a bit off list on this one, but, we like to get our name in the hat just in case.
I always like to share how we arrived at our offer price in the spirit of transparency. As well as to show you we don’t just throw a number out there and see what happens. We have a strict formula we buy off of that we arrived at through many years of trial and error, and put in place to make sure we avoid losing money as often as possible. On that note, I am always open to feedback on our value and rehab assumptions in case there is something you think we are missing, a comp you can bring to light to increase our value etc. Always looking to get a deal done!
Below is a breakdown:
1.595M Value all fixed up.
180k rehab (Assuming full updates, landscaping, adding AC, and opening up the floor plan)
80k Sales commission on the back end.
16k in closing costs (both closings, we will pay your seller’s as well, assuming we can select them)
4k in builders risk insurance
2k for staging
For this to make sense with our current margins, we would need to be at $1,165,000 all cash! We can close in as little as 14-21 days, or accommodate seller’s timeline. We are willing to cover seller Escrow and Title Insurance.
Thank you for your understanding & have a great week!
P.S. I will lose my ass one day flipping homes. Don’t know when that day will come.
Love,
Flipper
For this to make sense with our current margins, we would need to be at $1,165,000 all cash!
Looking to make 10% in 2-3 months. It’s a good gig if you can just land the properties at the right price!
It won’t be my listing though.
I love “opening up the floor plan.” What a stupid offer. Maybe they paid thousands for a seminar and this is their first foray?