Strategy for offering well under asking price?

Question

There are a lot of homes in our area that are I feel like are overpriced, and therefore are sitting on the market for a while

Wanting to get some of your advice as to offering the seller well below the listing price. Do you think it is best to be up front before seeing the house in person, and letting them know you think it is overpriced, and asking if they are flexible?

Or is it best to see the property, take a good analysis of the property, and give the sellers a low offer afterwards?

Thanks in advance!

Arsen Atanasovski · Answer

Get all the houses you like and send offers to all the houses the offers you feel that it’s worth. This method costs you no money, all you’ll get back is a yes or no or a counter. You’ll be surprised by some of the replies you get back. I offer 2-3 properties a day, I usually get the “take a hike” or “get a life” replies back, but again I’m not buying as a primary so I live on to the next. You will eventually get one that will say yes or counter to a number more to your liking. I have seen even wholesalers sending me deals that are market, I’m like come on man this house is at market in return they send me the highest selling home in that area and put that as the ARV, it seems they don’t mind cause it’s a sellers market, but you need to do your numbers to make the deal work, remember the deal needs to work for you not the seller. The seller has a problem that you need to solve but again you have a problem because your trying to make a living.

Steve Morris · Answer

Think I'd put together a compelling case on why you're offering less with comps that a broker can give to a seller.

Spit-balling a low-ball just marks you as cheap and not worth a lot of my time.