Our agent also tried to pull the "another party has reopened negotiations", so we better hurry if we are interested. Told the agent in no uncertain terms - we are genuinely interested, this is our first time and we don't like to be rushed. If there is another party interested then fine, go for them and we will step back, as we too have two other houses (true) on the back burner. We took about 3 weeks from the time we first saw the place to when we signed on the dotted line.
Making a "low ball" offer
- Thread starter cimbom
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I hope you're right but I think I'll wait at least a week before calling to check. Will be funnier then
I think the urgency will increase when the tenant's lease ends in three days
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I hope you're right but I think I'll wait at least a week before calling to check. Will be funnier then
I think the urgency will increase when the tenant's lease ends in three days
Silence is your friend - each time you initiate further contact you weaken your bargaining position by showing your interest.
I hope you're right but I think I'll wait at least a week before calling to check. Will be funnier then
I think the urgency will increase when the tenant's lease ends in three days
agree with what gremlin said. don't call them back. let them chase you.
one way of staying in contact without looking desperate, actually the exact opposite, is to go to an OFI of another place they are marketing.
edit - it's like the 'accidental' bump into someone that you want to talk to but don't want to call.
haha yup, used it a couple of times myself Ed. It's good if you can look relaxed as well.
I just got another call from the REA trying to "educate" me on the formula that is used for determining value of properties. Apparently, I'm wasting my time because every offer I make will be 20k below the acceptable level.
Hope it all goes well Cimbom, been an interesting thread.
I've offered a few lowball offers over time, used different bargaining pieces, ie short settlement, long settlement, unconditional contract, my lowest 'lowball' offer was around 50 to 60% of comparable sale prices, (was accepted). That was for an IP, did same with vacant landblocks, made lowball offers of 60 to 90% under comparable sales, got them too.
Property investing can be many things to many people. I kinda set my own agenda.
Good fortunes on your investing, I think you did just fine (and shrewdly), whilst thinking aloud on a property forum.