I've made an offer, what now?

[Chris M.]

I've posted before for this transaction, and want to thank everyone on this website for the advice and direction;  such a valuable resource for someone like me.

With a competitive market analysis, I found a property that was identical for 94k.  there were others that were above and below this price, but they seemed to be equally better or worse.  The property was on the 1st floor, and my realtor said a 1st floor property is expected to be move valuable because of moving and having no elevator in the complex.  By how much would this affect the sale price?

I want to get this place for 94k, I made an offer today for 91k to start negotiations.  

I like the property a great deal, i think it will work well as a rental, but being a new investor i want to get this property at the lowest possible price.  there is a 60k mortgage on the property now, and I will not be using financing.  

Any tips on etiquette and getting the best price would be greatly appreciated.

[Thelonious Jones]

If you do not know how to operate the property after acquisition, getting it at the best deal means nothing.

I would not let 2,3,4,5k stop you from moving forward, it just an excuse not to buy the property. You can make up the money over time if you know how to operate the property right.