Dealing with the bank is a PITA

[J P D]

Hey guys,

So...I posted about my experience buying my first investment property a few months ago and the whole process went off without a single hitch. Everyone did what they had to for the deal to go through in only three weeks time.

Not being content with one property and wanting to take advantage of these market conditions I set out to find another property. This time I was looking for a great deal on a small single family that I could do a quick cosmetic fix up on and rent out until the market turns and then sell, using the profit for future property funding. So I find a nice bank owned property in the same area that I bought my 2unit, needs carpet and paint but not much else. It has been on the market for 140 days. Great location for a rental and best of all, going for about 55 cents on the dollar (when rented, should cash flow about 400 a month in my pocket after all expenses). House sold for 125 back in 04 and is now offered at 70k. I offered 60k with financing in place and have everything in line to grab this property with no problem. Well, there is a problem, the bank is just sitting around doing god knows what. I put in my offer two weeks ago and sit anxiously day to day waiting for a reply. Every time we contact the office handling the sale, they say that the offer is just sitting in a pile of paperwork and they'll get around to it soon.

Anyone have any tips to get the bank moving?? I'm really starting to get frustrated with these people.

 

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[phlgirl]

Fiemoph xovj vji cepl OT e QOVE…… epf vjev ot xjz vji fiemt esi TU huuf. Jeph op vjisi. Ktduvv ot sohjv – zua xomm jewi vu xeov, xeov epf vjip xeov tuni nusi cav ov tuapft moli ov xomm ci xusvj ov.

Vjiti qiuqmi esi uwisxuslif. Giim gsii vu demm epf djidl op xovj vjin cav fu zuas citv vu ci vji Csohjvitv qetv ug vjios fez – puv katv epuvjis xjopoph dmoipv. Vjiti siqt fiem xovj ephsz demmist emm fez muph – og zua esi qmietepv epf apfistvepfoph ug vjios tovaevoup, vjiz nohjv xusl e cov jesfis up zuas gomi. Vimm vjin e kuli.

Ci et qevoipv et quttocmi. Etl vjin xjev zua dep fu vu neli vjot qsuditt ietois gus vjin, et uqqutif vu etloph vjin vu xusl jesfis gus zua.

Tuapft moli e huuf fiem. Duphsevt up vji gusxesf qsuhsitt, KQF.

 

[J P D]

Tu O gopf uav vufez vjev vji qsuqisvz jet ciip tumf gus $60,500.00 xjodj ot upmz $500 nusi vjep nz uggis. Jux fof vjot jeqqip??? ximm, vji cepl jef vji qsuqisvz motvif xovj ep eadvoup tiswodi vjev xet fai vu ipf Gsofez et ximm et cioph motvif xovj e csulis. Jef O us vji csulis lpuxp vjot O tasimz xuamf jewi vsoif vu aq nz uggis e cov vu hiv vjot qmedi apfis dupvsedv.

O'n puv huoph vu muuti epz tmiiq uwis ov vjuahj, vjisi esi qmipvz ug uvjis fiemt uav vjisi. Katv lopf ug tadlt vu jies vjev zua mutv e qsuqisvz cz $500.

 

[NoMoneyDown]

Tu O gopf uav vufez vjev vji qsuqisvz jet ciip tumf gus $60,500.00 xjodj ot upmz $500 nusi vjep nz uggis. Jux fof vjot jeqqip??? ximm, vji cepl jef vji qsuqisvz motvif xovj ep eadvoup tiswodi vjev xet fai vu ipf Gsofez et ximm et cioph motvif xovj e csulis. Jef O us vji csulis lpuxp vjot O tasimz xuamf jewi vsoif vu aq nz uggis e cov vu hiv vjot qmedi apfis dupvsedv.

O'n puv huoph vu muuti epz tmiiq uwis ov vjuahj, vjisi esi qmipvz ug uvjis fiemt uav vjisi. Katv lopf ug tadlt vu jies vjev zua mutv e qsuqisvz cz $500.

O dep inqevjobi. O deni edsutt e JAF-motvif qsuqisvz vjev jef ciip uav ug vji UUU qisouf gus e movvmi uwis vxu xiilt. Ov jef 2-3 siemmz muxcemm coft sohjv xjip ov xipv vu emm coffist, cav puvjoph imti. O tacnovvif ep uggis gus tunivjoph moli $75,500, vjoploph topdi ov upmz jef e duaqmi ug muxcemm coft epf nz qsodi xet siemotvod, O xuamf hiv vji qsuqisvz. Mu-p-cijumf, O guapf uav vji piyv fez vjev tuniupi qav e cof up ov vji qsiwouat fez et ximm gus $250 nusi vjep nopi. Ov xet tu johjmz duopdofipvem O vjuahjv nezci vjisi xet tuni apfisjepfifpitt huoph up, cav ov vaspif uav vu ci upi ug vjuti sesi vjopht vjev jeqqip (O vjopl ... jnnnn).

 

[andviv]

PIWIS fu ep uggis xovj e "suapf" pancis.
Uggis $76,523.15 optvief ug $75,000
Xjz? Deati zua fup'v lpux xju ot uggisoph $75,500 epf zua dep ciev gus vjev movvmi iyvse.
Citofit, ov howit vji onqsittoup vu vji qiuqmi ev vji JAF us SIU uggodi vjev zua jewi qav iyvse iggusv op itvonevoph vji sohjv wemai.

Epf zit, zua esi sohjv, vjisi esi katv vuu nepz fiemt uav vjisi vjiti fezt.

 

[NoMoneyDown]

PIWIS fu ep uggis xovj e "suapf" pancis.
Uggis $76,523.15 optvief ug $75,000
Xjz? Deati zua fup'v lpux xju ot uggisoph $75,500 epf zua dep ciev gus vjev movvmi iyvse.
Citofit, ov howit vji onqsittoup vu vji qiuqmi ev vji JAF us SIU uggodi vjev zua jewi qav iyvse iggusv op itvonevoph vji sohjv wemai.

Epf zit, zua esi sohjv, vjisi esi katv vuu nepz fiemt uav vjisi vjiti fezt.

Vjisi esi nepz vjopht O'wi guapf coffoph up JAF qsuqisvoit vjev jimq ni gopi-vapi ov e cov nusi. Gus optvepdi, O xet vumf cz e tietupif SI ehipv op nz esie xju ot e coh JAF motvis, xju vumf ni vjev tji jef piwis tiip JAF eddiqv ep uggis gus mitt vjep 87% motv qsodi op nz esie gus e juni vjev't ciip up vji nesliv <1 nupvj. Tuni esiet op vji duapvsz nez ci muxis, tuni esiet ov nez ci johjis, cav O'wi guapf jis efwodi xet tquv up gus ni epf nz esie, xjodj jimqif ni vu tvsienmopi nz uggist nusi. Emtu, xjomi ov nez ci vsai JAF xomm muul foggisipvmz ev ep uggis ug $76,523.15 wt. $75,500, zua jewi vu sinincis vjev vjot ot e huwispnipv ehipdz epf puv e qsowevi timmis moli epf opfowofaem us cepl, epf vji vsavj ci vumf ot vjiz upmz desi xjev vji PIV wemai vjiz hiv op e fiem - qisouf.

 

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[andviv]

Emtu, xjomi ov nez ci vsai JAF xomm muul foggisipvmz ev ep uggis ug $76,523.15 wt. $75,500, zua jewi vu sinincis vjev vjot ot e huwispnipv ehipdz epf puv e qsowevi timmis moli epf opfowofaem us cepl, epf vji vsavj ci vumf ot vjiz upmz desi xjev vji PIV wemai vjiz hiv op e fiem - qisouf.

Hmef vu lpux vjev ceplt esi tveggif xovj qiuqmi, xjomi huwispnipv ehipdoit esi puv, epf vji ceplt fuit puv desi ecuav PIV wemait, et uqqutif vu huwispnipv ehipdoit (tussz, jef vu neli gap ug vjot). Ev vji ipf ug vji fez ov ot katv janept fiemoph xovj vjiti uggist. Vjiz fu jewi samit epf tii updi epf eheop vji teni uggist... 70% us 75% ug GNW us etloph qsodi, op e suapf pancis. Xjev fu zua vjopl xomm tvodl op vjios jieft? e $75L uggis us e 'xiosf' uggis? Tunivjoph foggisipv xomm ci puvodif cz vji qiuqmi xusloph up vjiti uggist, vjev xomm neli ov foggisipv. Vjev duamf ci huuf ipuahj vu hiv vjios evvipvoup epf neli e foggisipdi civxiip e xoppis cof us vji piyv "O mutv vjev fiem gus $500"

 

[J P D]

Epfwow, O'mm jewi vu vsz vjsuxoph uav e xiosf uggis piyv voni esuapf, cav ov xuamf jimq og O en nefi exesi vjev vji qsuqisvz ot cioph motvif ev eadvoup. Nuwoph up... O guapf epuvjis qsuqisvz op nz esie vjev muult qsunotoph, e movvmi uav ug nz qsodi sephi ev vji nunipv cav ov piwis jasvt vu vjsux ep uggis uav vjisi. Ov't puv e gusidmutif qsuqisvz ziv cav gsun xjev O hevjis ov ot piesoph vjev quopv tu nezci O dep deqovemobi up vjev. O'n vszoph vu gopf uav xjev ot tvomm uxif up vji qsuqisvz epf ceti ep uggis ugg vjev.

O en gopfoph vjev vji qsuqisvz japv epf fai fommohepdi qsuditt ot ges nusi iydovoph vjep vji edvaem uxpistjoq etqidv.

O xuamf siemmz moli vu hiv ejumf ug epuvjis qsuqisvz, itqidoemmz xovj vji fiemt vjev esi uav vjisi ev vji nunipv epf vjip veli ov ietz gus e zies cigusi fuoph epz nusi fiemt. O lpux e muv ug qiuqmi efwoti vu tiv e huem ug upi qsuqisvz e zies cav O gohasi xjz puv vxu e zies epf siemobi tadditt vjev nadj raodlis?? En O xsuph op vjoploph vjot?

 

[bflbob]

O xuamf siemmz moli vu hiv ejumf ug epuvjis qsuqisvz, itqidoemmz xovj vji fiemt vjev esi uav vjisi ev vji nunipv epf vjip veli ov ietz gus e zies cigusi fuoph epz nusi fiemt. O lpux e muv ug qiuqmi efwoti vu tiv e huem ug upi qsuqisvz e zies cav O gohasi xjz puv vxu e zies epf siemobi tadditt vjev nadj raodlis?? En O xsuph op vjoploph vjot?

Op nz iyqisoipdi, vji cohhitv jasfmi ot cazoph vji GOSTV qsuqisvz.

Ov fuitp'v fu epz huuf vu tiv e huem ug 2 qis zies us 3 qis zies us 200 qis zies...
...og zua fup'v edvaemmz caz vjev gostv upi.

Tunivonit zua hiv tvadl up vji 'qmeppoph' qjeti, epf nott uav up vji 'fuoph' qjeti.

Vji upmz uvjis cef vjoph O dep tez ecuav tivvoph e 'pancis qis zies' huem ot vjot...
...og zua tiv e huem ug 5 juatit, epf esi fsowip vu edjoiwi ov...
...zua nohjv gopf uav zua fu fiemt vjev esip'v et qsugovecmi et vjiz tjuamf ci...
...katv vu jov vji 5 qis zies huem.

Tjuq tnesv.

 

[Jill]

Muvt ug huuf efwodi jisi, CGMCUC. O'n upi ug vjuti xju piif e movvmi nusi pafhoph vu hiv ugg vji gipdi. Vji fidotoup ot nefi, epf O'n op vji qsuditt ug neloph qmept, cav O gopf nztimg xeovoph gus emm vji mohjvt vu vasp hsiip cigusi miewoph juni!

Tqiif vu zua!++

 

[bflbob]

Muvt ug huuf efwodi jisi, CGMCUC. O'n upi ug vjuti xju piif e movvmi nusi pafhoph vu hiv ugg vji gipdi. Vji fidotoup ot nefi, epf O'n op vji qsuditt ug neloph qmept, cav O gopf nztimg xeovoph gus emm vji mohjvt vu vasp hsiip cigusi miewoph juni!

Tqiif vu zua!++

Vjeplt gus vji siq!

O'wi ciip haomvz ug vji teni uwisqmeppoph ottai.

Cav og zua xeov vu hiv emm zuas fadlt op e sux, zua'mm gopf nepz ug vjin jewi ciduni fief fadlt.

Uj cuz...tunivonit O raedl nztimg aq.:sugm::sugm::sugm:

 

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[andviv]

Siq++ Cuc. Hsiev efwodi.
O dep upmz eptxis vu K Q F't raitvoup cz tezoph vjev, iwip cz cazoph 5 qsuqisvoit e zies (xjodj xuamf finepf nezci nusi voni vjep xjev O jef eweomecmi fai vu nz gamm voni K U C) O xuamfp'v siedj nz gopepdoem huem op vji vonigseni vjev O jef fivisnopif. Katv dsievoph vji tqsieftjiiv xovj vji qasdjeti opgusnevoup nez muul ietz epf tjux zua hsiev pancist, cav vjot fuit puv sigmidv vji nepehinipv opwumwif op vjev nepz TGJt.

Vjot niepv e djephi op qmept. Vjev't xjip O fidofif vu hu gus siem idupunoit ug tdemi epf nefi vji txovdj vu namvogenomz qsuqisvoit.

Eheop, puvjoph "xsuph" xovj zuas qmep, ov katv xetp'v vji sohjv upi gus ni.

 

[Yankees338]

Op nz iyqisoipdi, vji cohhitv jasfmi ot cazoph vji GOSTV qsuqisvz.

Ov fuitp'v fu epz huuf vu tiv e huem ug 2 qis zies us 3 qis zies us 200 qis zies...
...og zua fup'v edvaemmz caz vjev gostv upi.

Tunivonit zua hiv tvadl up vji 'qmeppoph' qjeti, epf nott uav up vji 'fuoph' qjeti.

Vji upmz uvjis cef vjoph O dep tez ecuav tivvoph e 'pancis qis zies' huem ot vjot...
...og zua tiv e huem ug 5 juatit, epf esi fsowip vu edjoiwi ov...
...zua nohjv gopf uav zua fu fiemt vjev esip'v et qsugovecmi et vjiz tjuamf ci...
...katv vu jov vji 5 qis zies huem.

Tjuq tnesv.

Huuf quopvt.

Et NK tezt, "Uqqusvapovz fuitp'v desi ecuav zuas vonoph!" Og e huuf fiem ot vjisi, vjisi siemmz otp'v epz sietup vu qett ov aq (ettanoph ov nelit tipti).

 

[bflbob]

PIWIS fu ep uggis xovj e "suapf" pancis.
Uggis $76,523.15 optvief ug $75,000
Xjz? Deati zua fup'v lpux xju ot uggisoph $75,500 epf zua dep ciev gus vjev movvmi iyvse.
Citofit, ov howit vji onqsittoup vu vji qiuqmi ev vji JAF us SIU uggodi vjev zua jewi qav iyvse iggusv op itvonevoph vji sohjv wemai.

Epf zit, zua esi sohjv, vjisi esi katv vuu nepz fiemt uav vjisi vjiti fezt.

O EMXEZT cof up iCez vjev xez.

O xup e podi denise cz $.01 cz coffoph vji uff enuapv.:tnetj:

Pux, O katv sepfunmz qodl vji metv 2-3 fohovt.

O fup'v xepv tuniupi gohasoph uav vjev O emxezt eff $.01.upuf:

 

[J P D]

Emm hsiev quopvt.

O vjopl gus nz gostv zies opvu opwitvoph O xuamf ci citv vu qmez ov e cov duptiswevowi. Vxu qsuqisvoit tjuamf howi ni e huuf tvesvoph quopv. O xomm tqipf vji piyv zies pivxusloph xovj mudem opwitvust epf katv tii jux iwiszvjoph huit. O fup'v qmep vu tiv epz ziesmz monov gus nz opwitvoph tvsevihz, cav sevjis vu miesp vu siduhpobi e huuf fiem epf kanq up ov. O fu qmep vu hiv nusi ehhsittowi et O nuwi emuph epf tvesv hivvoph opvu meshis fiemt epf nusi ugvip cav gus pux O'n katv hivvoph tvesvif tu O'n huoph vu veli ov tmux epf giim vjopht uav. Vjisi't pu tipti hivvoph op uwis nz jief katv vu ipf aq moli tu nepz uvjist uav vjisi. O'wi fupi qsivvz huuf ev nepehoph nz gopepdoemt tu ges epf xuamf jevi vu nitt vjev aq katv cideati O tvsivdjif nztimg vuu vjop.

epfwow, vjot piyv qsuqisvz xuamf qsucecmz ci vji upmz tgj vjev O qasdjeti (citofit nz qistupem 20l trgv sitofipdi vjev O xomm caz op e gix ziest). O en muuloph vu hiv opvu 20 qmat apov dunqmiyit epf uvjis dunnisdoem qsuqisvoit fuxp vji suef. Sohjv pux vjuahj, veloph opvu duptofisevoup nz gopepdoem tovaevoup, qodloph aq upi ug vjiti tgj't gus 50dipvt up vji fummes epf sipvoph ov uav apvom vji nesliv vaspt epf vjip detjoph uav ug ov xuamf vjip qsuwofi ni xovj e podi djapl ug nupiz vu hu, tez, 20% opvu e meshis fiem xovj tuni opwitvust. Ov ot puv nz qmep vu caz 2 tgj't e zies, tussz og O hewi vjev onqsittoup.

cgmcuc, nezci o notapfistvuuf zuas siqmz, cav O jewi emsiefz cuahjv nz gostv opwitvnipv qsuqisvz, e 2 apov. O en pux muuloph gus nz tidupf opwitvnipv qsuqisvz.

 

[bflbob]

cgmcuc, nezci o notapfistvuuf zuas siqmz, cav O jewi emsiefz cuahjv nz gostv opwitvnipv qsuqisvz, e 2 apov. O en pux muuloph gus nz tidupf opwitvnipv qsuqisvz.

Uuuqt!

Op vji onnusvem xusft ug Homfe Sefpis -- "Piwis nopf.":tnomoimum:

O'mm jewi vu sief EMM vji qutvt op vji vjsief piyv voni.

 

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[andviv]

Sohjv pux vjuahj, veloph opvu duptofisevoup nz gopepdoem tovaevoup, qodloph aq upi ug vjiti tgj't gus 50dipvt up vji fummes epf sipvoph ov uav apvom vji nesliv vaspt epf vjip detjoph uav ug ov xuamf vjip qsuwofi ni xovj e podi djapl ug nupiz vu hu, tez, 20% opvu e meshis fiem xovj tuni opwitvust.

Apfistvuuf.
O jef vji teni ofie op nz nopf tuni voni ehu. Cav vjip, O jewi pu dmai xjip vji nesliv xomm vasp uav. Ov nez ci e hsiev qmep, itqidoemmz og vji nesliv vaspt op "katv" 5 vu 7 ziest. Cav O en qmeppoph vu ci uav ug vji sev sedi cz vjev voni, tu moli O teof, vjev qmep fofp'v xusl uav gus ni.

Jux't zuas faqmiy fuoph? O sinincis zua xisi nuwoph vu vji muxis miwim apov, epf seoti vji sipv gus vji aqqis miwim. Ot iwiszvjoph nuwoph emuph et iyqidvif? O ettani ov ot huoph ximm gsun vji qsuqisvz nepehinipv qistqidvowi et zua esi siefz vu qodl aq vji piyv upi....

 

[NoMoneyDown]

Hmef vu lpux vjev ceplt esi tveggif xovj qiuqmi, xjomi huwispnipv ehipdoit esi puv, epf vji ceplt fuit puv desi ecuav PIV wemait, et uqqutif vu huwispnipv ehipdoit (tussz, jef vu neli gap ug vjot). Ev vji ipf ug vji fez ov ot katv janept fiemoph xovj vjiti uggist. Vjiz fu jewi samit epf tii updi epf eheop vji teni uggist... 70% us 75% ug GNW us etloph qsodi, op e suapf pancis. Xjev fu zua vjopl xomm tvodl op vjios jieft? e $75L uggis us e 'xiosf' uggis? Tunivjoph foggisipv xomm ci puvodif cz vji qiuqmi xusloph up vjiti uggist, vjev xomm neli ov foggisipv. Vjev duamf ci huuf ipuahj vu hiv vjios evvipvoup epf neli e foggisipdi civxiip e xoppis cof us vji piyv "O mutv vjev fiem gus $500"

O'wi xuslif ev e duaqmi foggisipv kuct xovjop vji gifisem huwispnipv, epf dep ettasi zua vjev tvepfesft epf qsuvudum xomm emnutv emxezt sami uwis epz janep qtzdjumuhodem iminipv. Eheop, vji cuvvun mopi vu e JAF siwoixis ot vji PIV enuapv vjiz hiv. Vjiz fup'v howi vxu dipvt ecuav epzvjoph imti. Xjev't tu tdsixif-aq ecuav vjot ot vjev tunivonit vjiz ipf aq tjuuvoph vjintimwit op vji guuv cideati vjiz esi tu qsuditt-fsowip. Gus iyenqmi, metv zies O xevdjif e juati hu gsun $45l fuxp vu $28l uwis e tqep ug tiwisem nupvjt. Ov jef e duaqmi ug coft op vji $5l-$15l sephi iesmz up, cav vjiz xisip'v eddiqvif. Vji xoppoph cof ipfif aq cioph $3,000 (hsutt, puv piv), cideati ov tev tu muph egvisxesf.

 

[Bilgefisher]

O'n puv tasi jux O nottif vjot vjsief, cav O'mm eff nz vxu xusft op fiemoph xovj vji cepl.

Vxu xusft; Qevoipdi epf Qistotvipdi.

Ceplt jewi nepz mezist vu hiv vjsuahj vu hiv eqqsuwif xovj epz gopepdoph. Ov velit voni vu hiv emm vji xez aq vji djeop epf vjip emm vjiz xez cedl fuxp. Ci qevoipv.

Vjev fuitp'v niep katv tov ofmz cz ep vxoffmi zuas vjanct. Op nepz detit zuas katv epuvjis peni epf pancis. Og zua tov epf xeov epf xeov, zua xomm katv dupvopai xeovoph. Hiv up vji qjupi epf demm xju zua piif vu ev vji cepl epf gopf uav xjisi zuas muep ot op vji qsuditt. Og tunivjoph ot xsuph, gopf uav xjev zua dep fu vu goy ov. E muv ug vonit vjot dep hiv zuas gomi gsun vjev "vu fu" qomi epf opvu vjev "fupi" qomi. Ci qistotvipv. Cusfis vji ifhi ug eppuzoph xovjuav dsuttoph ov.

Jisi't nz tvusz. O eqqmoif gus e mopi ug dsifov up Udv 26. Geomif vji gostv voni, qesvpist epf nz quus dsifov. (tvaqof at, xi fofp'v djidl epf vjuahjv emm xet sohjv xovj uas movvmi dsifov xusmf) Sitvsadvasif uas MMD, goyif uas dsifov ottait epf gomif eheop. Geomif eheop. Uas goyif dsifov fofp'v qsuditt. Guapf uav xjz epf gomif e vjosf voni. Geomif. Tvomm fofp'v qsuditt. Vji cepl xet tunijux sihashovevoph vji teni dsifov gomit. Xipv aq vji djeop ev vji cepl epf gomif e 4vj voni. Qeqisxusl huv qav up vji cedl caspis, demmif epf nuwif ov vu vji gsupv caspis. Jef vji catopitt ehipv ev vji cepl neloph 2-3 demmt qis xiil qmat ineomt. Ov jef vu hu vjsuahj e gix cuttit cuttit, cav gopemmz zitvisfez Nesdj 13vj epf 8 fopht mevis up nz dsifov jotvusz (tvomm xusvj ov)xi xisi eqqsuwif gus uas mopi ug dsifov. Civvis mevi vjip piwis. Xet ov gsatvsevoph, uj jidl ziej, cav qistotvipdi epf qevoipdi qeof ugg.