[5-DayForum] MLS And Auctions

Thu Nov 8 08:06:14 EST 2007

MLS And AuctionsWhen we did our sale a few people asked me about lease option or owner financing when they called.  I said that all bids would be considered and if theirs was the highest we would consider their terms offer as part of the bid. You would probably want a higher price in that case. We are very happy with some houses we sold with owner financing a few years ago - we will end up getting more than twice the price of the house.  I think those are the things you iron out with your buyer depending on your situation and your needs - not part of the 5-day method but part of the finishing up of the sale.
Rosemarie 
  ----- Original Message ----- 
  From: Doug Meade 
  To: 5-dayforum at howtosellyourhomein5days.com 
  Sent: Wednesday, November 07, 2007 8:55 PM
  Subject: [5-DayForum] MLS And Auctions

  Hello, all. 

  Just as background info, I've been buying and selling houses since 1993.  I was an appraiser for 2 years, 1993-1995, I think, Real estate Mortgage broker since 2005, licensed real estate sales for 14 years and now a RE Broker.  I am not by any means a typical broker and have never had anyone in my car to go look at houses.  I only buy and sell my own houses with a couple of "helping out" exceptions along the way and in fact, don't really care for most agents.  Hope I don't sound smug or condescending, experience has hardened me a bit but I know I don't know everything but love reading anything and everything "out of the box."

  Having said all that, I tried to use the MLS as an auction forum before it had an auction method built-in.  Since it's new, I can't imagine experiences being much different than what I encountered: I had a couple of agents complain to the MLS (typical), no agents bothered to participate, and it flopped miserably!  Funny thing though, I sold it to a neighbor across the street whom I had spoken to before the auction.  It actually helped her buy it cheaper.  So, that's my experience with trying to use the ancient MLS system and it's "in-the-box" members for an "out-of-box" idea.

  I have a couple of nicely purchased flips that I'm finally going to use to try out the 5-day auction method.  I'll report it herein.  I'm a little embarrassed to admit that I bought this book 10 years ago.  This book was the only one to not get stolen in Chicago.  Still, I'm just now getting around to trying it!  The only thing that concerns me is I picked the worst possible market!  We'll see…

  How about offering Seller financing or rent-to-own terms as part of the auction offer possibilities?  Would that help or confuse or solve the current market conditions regarding loans?

  Sincerely, 

  Doug Meade 

  No virus found in this outgoing message.
  Checked by AVG Free Edition.
  Version: 7.5.503 / Virus Database: 269.15.24/1115 - Release Date: 11/7/2007 9:21 AM

------------------------------------------------------------------------------

  _______________________________________________
  5-DayForum mailing list
  5-DayForum at mailman.howtosellyourhomein5days.com
  http://mailman.howtosellyourhomein5days.com/mailman/listinfo.cgi/5-dayforum
-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://mailman.howtosellyourhomein5days.com/pipermail/5-dayforum/attachments/20071108/e4928a3e/attachment.html 