nobody will make such offers, second, if I waste time dealing with such offers, I would lose time finding deeply discounted deals popping up everywhere. Why do I want to waste time giving him my 300K house for a 400K price while I may lose my time and transaction cost? Of course, if I have to sell, I would sell it. but I don't have to. You still don't understand me.
Let me present this case to you: In front of me there are 3 houses all experienced a 70% drop from 300K to 100K and they will waste me 5 weekends of time. But there is one guy wanting to buy my existing 300K house for 400K but will waste me time so that I may not be able to get 3 100K houses. Of course, I won't waste time to deal with just small gains. I look at long term. 3 deeply discounted REO houses will mean 3 new positive cash flow for me on bank's money. That's the time well spent.
Got it now?
Let me present this case to you: In front of me there are 3 houses all experienced a 70% drop from 300K to 100K and they will waste me 5 weekends of time. But there is one guy wanting to buy my existing 300K house for 400K but will waste me time so that I may not be able to get 3 100K houses. Of course, I won't waste time to deal with just small gains. I look at long term. 3 deeply discounted REO houses will mean 3 new positive cash flow for me on bank's money. That's the time well spent.
Got it now?
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