Multiple Offers Declined: 5% in-comparison 20% Down
Hello BP Family, my partner and I have been aggressively making an attempt to purchase an investment property in NJ, Jersey City area.
Our focus is/was a 2-3 multi family home that we plan to house hack for 1 year.
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We placed multiple offers either at ask price or above ask price and even removed some contingency’s to make our offer more attractive.
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Problem: We often have to compete with multiple offers that have 20 percent down, and the seller believes that we cannot close which is far from the truth.
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Are there any solutions or tips for this issue?
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Our position: 5% down property’s around 600k+ in aggressive market.