Posted by ko/FL on 4/27/12 10:10am
Msg #419119

cash purchase

I just received a call for a cash purchase for $60. I tuned it down. What is a reasonable price for this?

thx

Reply by Ilene C. Seidel on 4/27/12 10:42am
Msg #419123

Seller or buyer side? Or both?

Reply by Lee/AR on 4/27/12 10:46am
Msg #419125

Faxback whole package?
Regardless of answers, $60 is on the low side, imo.
Problem with a purchase is you just never quite know what you're walking into. Could be 20 minutes or a seemingly neverending assortment of last minute negotiations and problems that could have been avoided.

Reply by ko/FL on 4/27/12 10:52am
Msg #419127

Buyer, fax back 10 pages

Reply by MW/VA on 4/27/12 11:01am
Msg #419135

Seems going rate for these is $60-$75. There isn't much

involved. Only you can decide if you can work with that fee.

Reply by ko/FL on 4/27/12 11:04am
Msg #419137

Re: Seems going rate for these is $60-$75. There isn't much

That's what I thought at least $75.00. Thanks for all your input.

Reply by Shoshana/AZ on 4/27/12 11:03am
Msg #419136

It's usually a very small package. I would have taken it if it were close to home.

Reply by Bob_Chicago on 4/27/12 11:43am
Msg #419146

Many factors to determine is the fee is reasonable for YOU ,

but I like to ask if buyer has seen and approved the HUD. If so , usually a quick closing.
There may, however, be a slew of dox for a HOA, or conditon of property dox for buyer to approve.

Reply by Barb25 on 4/27/12 9:51pm
Msg #419220

Again I am late - Cash Purchase

Again this is my experience: you never know. You get the call. You have to drive the same amount as if it were a refi (yesterday for me 27 miles each way) number of pages (you don't know yet). Number of notarizatons (depends of title docs) Faxback (again depends of title) Problems at table (remains to be seen) I find these can take longer than a simple refi. (or at least as long). The point is You still print docs, you still have to drive there, you need to fax back "stuff." Once you are at a location what is a few more minutes if it is a refi for more money. It is easier to gauge a refi than a Cash Deal. Nobody is in a hurry to pay extra when pages "increase" because that doesn't really change the job all that much. What "minutes"? Dumb. Anyhow that is just how I see it?

Reply by JanetK_CA on 4/28/12 5:32pm
Msg #419270

Couldn't agree more! n/m

Reply by Art_PA on 4/28/12 11:47am
Msg #419233

Once you commit you are stuck with how it actually turns out. At best 10-15 minutes. You collect IDs, they sign a few affidavits, fax back for approval, and leave.

Then there are those when it is really not a cash deal. There is a lender present, or you find out at the last minute, that you will receive the lenders package.

Even in a cash deal there can be problems with parties disputing the final numbers.

$60 is low. In any case, you should make it clear that, just as in REO deals, that you will charge more if it is not the deal you committed to.

Reply by Gerry Grummons on 4/29/12 7:31am
Msg #419298

Important to have communication with the Buyers agent prior to appointment
so you know that HUD is correct at the time of closing. Usually done at the
Buyers agents office so the agent can do the FAX back. The Buyers agent should
get the HUD copy from title as well.

Reply by jba/fl on 4/29/12 10:24pm
Msg #419329

And still worth more than $65-75. IME, purchases are time suckers - always longer than refis.