Low ball offers as a strategy?

3 Replies

Does anyone just go through the MLS and make offers to sellers that are far below their asking as a strategy to get more properties? I'm seeing many investors in my area paying nearly retail for their deals...in fact, I just did a deal that was nearly retail, because I didn't have any other avenue at that moment. Just wondering how irritated people get with you if this is your strategy, and mainly, if it works!

Amber,

I think that it would depend on the house, the area, and the person.

You could be in my area, where houses are on the market for just a few days, and are going for more than retail. Oh, how quickly we forget.

Best to you!

TM

Originally posted by @Amber Stevens :

Does anyone just go through the MLS and make offers to sellers that are far below their asking as a strategy to get more properties? I'm seeing many investors in my area paying nearly retail for their deals...in fact, I just did a deal that was nearly retail, because I didn't have any other avenue at that moment. Just wondering how irritated people get with you if this is your strategy, and mainly, if it works!

There aren't many sellers on the MLS (if any), that will be enthused about an offer from an investor for 65% of what the property is worth or listed for.

@Amber Stevens The previous posters are correct regarding it depends on the market, however; I am sure on every MLS list in every city there is one buyer whom would accept a low ball, quick close, big EMD offer.

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