"Let's Low-Ball an Offer"
It's all in the timing. .
A good Realtor knows when to low ball. . Here are some of my own rules for my agents when we send a low ball offer. .
1. Bank has reduced the price for the 2nd time (They Blinked!)
2. Bank has reduced price within 4 weeks (Desperation?)
3. Property has been on the market 4 months or longer ("Where are the buyers?)
4. Bank has changed REO Listing Agents (impatient)
5. Property needs cosmetics but it's not a total rehab(No Mold)
6. Property is vacant and could be vandalized (security for the bank)
Caution: It is not to your best interest to submit a ridiculously low offer, often it just enrages the seller (bank) who then refuses to negotiate.
If the property is already priced close to market value then an offer of 8-10 % below asking IS a low-ball.
Properties that are priced right in Montgomery County aren't staying around too long.
My Rules of the WORST time to submit a low-ball offer:
1. Seller has not reduced asking price
2. Property is less than 4 weeks on the market
3. You are bumping on other possible buyers when viewing it
4. Property is priced slightly below market value already; a good Realtor should give you a full CMA before offering.
5. The dreaded M.O. (Multiple Offers)
FREE LIST OF FORECLOSURES And PRE-FORECLOSURES in MONTGOMERY COUNTY WITH 100's of PHOTOS
Secret #1: Pre-Foreclosures
Secret #2: How Much Can You Afford
Secret #3: Not In A hurry To Buy A Foreclosure?
Secret #4: I Got the Cash!
Secret #5: Your Criteria- Your Tactic
Secret #6: The Internet: Friend of Foe?
Secret #7: “No Money Down 30 Cents On The Dollar”
Secret #8: The Perfect Storm
Secret #9: Low Ball Offers
Secret #10: REO vs Foreclosure
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