David's new digs

[DavidS]

Originally Posted by jeff68

Yeah David, you need a car-guy castle. Trust you are already scoping out a site.

I put in a lowball offer today. Will keep you posted. 3 car garage + 3 horse stalls combined. lol. A definite fixer-upper/3 year vacant foreclosure with a f*@%load of problems...but sized right.

[jeff68]

Originally Posted by DavidS

I put in a lowball offer today.

I hope this works out. Aren't places like that usually sold to a low-baller?
Anyhow, imagine that place all fixed up & landscaped ...with a nice cobblestone driveway, several first-gens parked out front, and ....well, I'm sure you are already having these visions.

Oh, and one day we'll park your Rallye Green Z next to my Ash Gold L30/M20 for a real clash of the late 60's colors.

[DavidS]

Originally Posted by jeff68

I hope this works out. Aren't places like that usually sold to a low-baller?

The bank has turned down 3 offers from other people so far. From what I've read, within the first 30 days they usually don't go lower that 10% of of the asking price and after 90 days they are more willing to make a deal. Right now it's at 36 days. I should have an answer from the bank by Friday.

Originally Posted by jeff68

Anyhow, imagine that place all fixed up & landscaped ...with a nice cobblestone driveway, several first-gens parked out front, and ....well, I'm sure you are already having these visions.

The cobblestone driveway will definitely have to wait. LOL. I got a ballpark estimate of $20,000 to tear out the old driveway and put in a new regular one. The quote to replace the roof should be a real doozy!

Originally Posted by jeff68

Oh, and one day we'll park your Rallye Green Z next to my Ash Gold L30/M20 for a real clash of the late 60's colors.

That would be psychedelic!

[DavidS]

Originally Posted by jeff68

I hope this works out. Aren't places like that usually sold to a low-baller?

First low ball (-14%) - DENIED.
Second medium low ball (-9%) - DENIED and they were in negotiations with another buyer so I thought it was over.
Third ever so-slightly low offer (-4.5%) ACCEPTED after they couldn't come to an agreement with the other guy.

time to watch that crappy 80's movie again - the MONEY PIT, because that's what I have waiting for me. lol.

3 years vacant foreclosure and bought "AS IS" - what could possibly go wrong?

[frankzlt1]

Originally Posted by DavidS

First low ball (-14%) - DENIED.
Second medium low ball (-9%) - DENIED and they were in negotiations with another buyer so I thought it was over.
Third ever so-slightly low offer (-4.5%) ACCEPTED after they couldn't come to an agreement with the other guy.

time to watch that crappy 80's movie again - the MONEY PIT, because that's what I have waiting for me. lol.

3 years vacant foreclosure and bought "AS IS" - what could possibly go wrong?

Lol congrats

[jeff68]

Originally Posted by DavidS

3 years vacant foreclosure and bought "AS IS" - what could possibly go wrong?

Ha! Awesome that you got the house. Let the real fun begin.

[Grovlet]

I went with Ayotte Brothers to do my driveway.

100 x 10 ft section had to be completely removed (12" Down) and a new section of 20 ft x 20 ft up top newly paved and widened to 12 ft wide.

Not sure how long that one is but these guys were 1/2 of everyone else's price, and they do excellent work.

As a matter of fact they've now done 3 others in our neighborhood since ours last year.

[DavidS]

Originally Posted by Grovlet

I went with Ayotte Brothers to do my driveway.

100 x 10 ft section had to be completely removed (12" Down) and a new section of 20 ft x 20 ft up top newly paved and widened to 12 ft wide.

Not sure how long that one is but these guys were 1/2 of everyone else's price, and they do excellent work.

As a matter of fact they've now done 3 others in our neighborhood since ours last year.

Thanks Eric! The driveway is about 800 feet long.

I'm not so sure if Wells Fargo will accept my offer though. I keep reading up on REO properties and for the most part, banks don't start to make deals.....until a property has been up for sale for more than 90 days.

[DavidS]

My first pass at a low ball offer (-14%) was denied by Wells Fargo. I have also read so much REO/packaged security/bank info lately that I can't sleep well at night.

I was thinking of forgetting the whole thing since the wife was not totally loving the place, and she was on the fence because of all the repairs and renovations needed.

But....we went there again this morning and she was actually liking it much more and started planning out a bunch of stuff.

So a medium ball offer was pitched (-9%). I am planning on denial #2, but you never know. Hopefully the "car-guy castle" plan doesn't go down in flames after 2-3 years of looking.

[jeff68]

An 800 ft long driveway? Think of the burnouts you can do! Then, think about getting 10" of heavy wet snow on that driveway. You'll need to get a plow for that truck for sure.