Home is about 3 miles from mine. New construction but does not have a yard (no sod) etc. My MIL will live in the house until she can no longer live alone (I will come care for her also) then we plan to rent the property. Issue is there is no inventory near our home. Comps support an offer of $355, (they are asking $380) and the home has been on the market for 40+ days. I am torn about how to not let the home get away vs how low to come in. If we come in at $355 do I put closing on the seller? Or do I offer less but pay all closing? Since I am a cash buyer, are there any other ways to make my offer more attractive. *construction company is new on the scene, so no reputation good or bad so not sure I would want to forgo any inspections.
Investor · Austin, TX · Member since 2018 · 192 posts · 104 votes
6y
@Brooke Lange you only get what you ask for. I recommend reading the book Never Split the Difference by Chris Voss. Don't put yourself in a situation where you feel like you have to purchase this property; otherwise the leverage will be with the seller. Be mentally prepared to walk away. There are many ways you can negotiate (to include asking for a lower price or asking for concessions). Will this property cash flow once it gets rented out?