Real Estate Rental Property Update (June 24, 2012)

Just got word from my agent that the prior deal (the one that sold for $75k over listing) fell through. I didn’t receive all the details, but my initial guess is that the financing became a problem. This would seem likely if the appraisal was way off from the closing bid.

With the initial winner out of the picture, it looks like I may have another attempt at bat. My agent is asking me if I want to stick to my original offer, or up the ante in one last ditch attempt to win. I am contemplating my options and deciding if I want to continue to pursue this property. Decisions, decisions. I will post a follow-up update as soon as there is a resolution.

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[…] and still barely etched out a victory. I didn’t even have the winning bid! Fortunately, the winner couldn’t secure bank financing, so my agent and I sneaked in at the 11th hour. At the time, everyone around me was telling me how […]