First offer=Fail but lesson learned

[Jeremiah J.]

Thanks to everyone here I have made my first offer on a property. The property was in pretty good shape but in a rough area of town. The seller e-mailed me asking for 5500 OBO. Since I wasnt sure I could unload it in that area (no buyers are interested in the area) I figured I could buy it myself and rent or lease option the property. After reading posts here I decided to make a lowball offer since thats how you make your money when buying. I offered 1200 and immediately the seller countered with 2k, I noticed the property didnt have a driveway (that you could see in the pics) so I stated that if it did I could go to 1500 and thats it. The seller passed but still may consider later on. I couldnt believe the seller immediately dropped their asking price from 5500 to 2000 that easily though. So thanks for everything so far and I am going to keep learning.

And PS read Power Negotiating if you havent yet. It helps as well.

[Joel Owens]

Found the book free online.

http://www.4shared.com/document/8XCGWhc1/Secrets_of_Power_Negotiating_f.html