About a month ago, we learned that we finished second in the bidding on a house in foreclosure that we really wanted.
Two weeks ago, we asked our realtor to ask the listing agent to ask the investor if they wanted to sell the house to us the day after escrow closed. To our surprise, they weren’t!
It turns out that they have a very good contractor who works on all of their houses and they needed to keep him busy so that he doesn’t begin working for someone else.
Well, today my realtor finally got the mysterious investor’s contact information and e-mailed it to me.
I called her as soon as I got off work at 5:00.
“Hello?”
“Hello. My name is Lord and I wanted to actually talk to the person who bought my house out from under me!”
She laughed.
I told her that I wasn’t kidding and that we were interested in buying the house from her.
She agreed to meet with us at the house at 6:15!
She came with her husband. He already has an MBA and is now attending law school! No sense trying to be shrewd with him!
I asked them how much they paid for the house. To our great surprise, their final bid was $2,000 lower than ours! The bank preferred their offer because it was all in cash.
Although they have owned the house for less than a week, they have already made great progress. It turns out that they are doing everything that we planned and more!
I told them that I liked what they were doing with the place. There was just one thing that they had done wrong…
If we had won the bid, we would have converted half of the basement into a library/family room. They were turning it into a bedroom AND a family room. In fact, they had already almost finished the rough framing. I asked them to stop.
Why?
Because we wanted to buy the house! We told them what we are willing to pay. They are going to contact us on Saturday to let us know if they can make our offer work.
Stay tuned!!!
