Tempe, AZ Home: Another Contract

The previous buyers walked from their contract but now, we have another contract. The "pending" price is nearly identical.

As investors, we can do our comps and attempt to determine market value but, ultimately, the market will have the final say!

Cheers to better success with this contract for both parties (us, the sellers and the new buyer)!

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Property Qwest Project Details
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Address:
717 W. Manhatton Dr.
Tempe, AZ 85282

Listing Info:

• Listing price: $230,000.00
• Tempe MLS #: 4022329
• Tempe MLS Link

Take the virtual tour (click icon below):

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Tempe, AZ Home: Contract Falls Through

As it goes sometimes, our buyers backed out of the contract. Definitely disappointing as we had two similar offers and went with theirs because their offer came in first. Their reasoning for backing out was that they wanted to find something newer, a little further out. It took them two weeks to figure this out?

The buyers associated with our backup offer just found another home. Back to the market for this one. Anyone interested in buying a nice home in Tempe, AZ?

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Property Qwest Project Details
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Address:
717 W. Manhatton Dr.
Tempe, AZ 85282

Listing Info:

• Listing price: $230,000.00
• Tempe MLS #: 4022329
• Tempe MLS Link

Take the virtual tour (click icon below):

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Tempe, AZ Home: In the Clear?

It looks as if we've cleared the inspection period hurdle. Some minor issues to be addressed including a few termites. We're still waiting to get docs from the buyers but, again, the good news is that it appears that nothing major was found. We weren't expecting anything major but there's always the unknown!

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Property Qwest Project Details
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Address:
717 W. Manhatton Dr.
Tempe, AZ 85282

Listing Info:

• Listing price: $230,000.00
• Tempe MLS #: 4022329
• Tempe MLS Link

Take the virtual tour (click icon below):

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Arizona Public Trustee Auction - Potential Property for Monday (Update: 11/17/2008)

The property we were pursuing at the public trustee auction, located in Tempe, AZ, went to a higher bidder. Opening bid on the property was $143,000. We felt comfortable purchasing this property up to $150,000, our highest bid. The home ultimately sold for $154,900.

For those not overly familiar with the process, this is par for the course. There's no need to get excited just to purchase a property. You get excited when you can pick one up at the auction for lower than your highest bid. If that happens, you've had a good day.

Finding homes at price points that make sense are few and far between after you factor in the competition. With that being said, there are properties available if you search EVERY SINGLE DAY! Be persistent.

On to the next prospect.

Arizona Public Trustee Auction - Potential Property for Monday (11/17/2008)

On the radar, we have a property that we're looking to pick up from the public trustee auction. It looks like the current occupants are in the process of moving out. On paper, the numbers look great which means there's most likely considerable work that needs to be done to properly renovate the home.

Waiting to hear back from our lender to get his thoughts on funding and valuation. Updates to follow!

Tempe, AZ Home: Counter-offer Accepted - 717 W. Manhatton Dr.

Counter-offer accepted! As fate would have it, while we were waiting to hear back from our counter-offer (deadline - 6:00PM, Monday, 11/10/2008), we received another offer on our Tempe, AZ home.

The offers were very similar but, since we had already started negotiations with the buyers who submitted their offer on Sunday, we felt it was only fair to go with their contract if ultimately they were close to agreeing to the terms of our counter. They did. The only change was the need to push the closing date out by roughly one week.

Both potential buyers chose FHA financing. FHA financing seems to be the only game in town right now. As sellers of our remodeled homes, there are hurdles for us when a buyer chooses to go with FHA financing opposed to conventional financing. Mainly, the 90-day seasoning requirements.

Next hurdle on our way to close our Tempe, AZ home ... the home inspection. Escrow to open today. Updates to come on a future day!

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Property Qwest Project Details
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Address:
717 W. Manhatton Dr.
Tempe, AZ 85282

Listing Info:

• Listing price: $230,000.00
• Tempe MLS #: 4022329
• Tempe MLS Link

Take the virtual tour (click icon below):

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Tempe, AZ Home: An Offer - 717 W. Manhatton Dr.

Just received an offer yesterday on our Tempe, AZ home. We submitted our counter-offer this evening. The negotiations begin!

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Property Qwest Project Details
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Address:
717 W. Manhatton Dr.
Tempe, AZ 85282

Listing Info:

• Listing price: $230,000.00
• Tempe MLS #: 4022329
• Tempe MLS Link

Take the virtual tour (click icon below):

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Tempe, AZ Home - 717 W. Manhatton Dr.

Open house today, 11/9/2008:


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Property Qwest Project Details
--------------------------------------------------------------

Address:
717 W. Manhatton Dr.
Tempe, AZ 85282

Listing Info:

• Listing price: $230,000.00
• Tempe MLS #: 4022329
• Tempe MLS Link

Take the virtual tour (click icon below):

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