Need Advice Making an Offer
I am currently bidding on a SFH that was listed for $86,900. In discussing with the agent I had planned on putting in an offer for 65K. However, I decided that I wanted to go in a bit lower at 60k with my absolute max at 65K.
The agent then told me that the couple would likely not accept that offer and that in fact 65K was too low. The 65k is less than what they owed on the house. He also noted that if they don't get closer to the asking prices then it would go into a short sale.
The numbers work for me as a rental if I can pay 65k. However, I am wondering if I should wait for it possibly to be listed as a short sale. I am concerned that if it goes to a short sale that I could risk not getting the property as it would be more competition.
I am a new investor and would appreciate any direction on how to proceed.