Making Low Ball Offers On Bank Owned Properties
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pure bs
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The toughest competition for REO is the owner-occupant who can live in the property and fix it over several months. There is no way for an investor to pay as much as the OO can pay. The banks may even accept a slightly lower offer from the OO compared to the investor, because the bank/lender has a mission to promote home ownership.
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who are u to say what the banks will take for the property !!
your just looking to get the highest 6%commission possible !!!
lame video !!
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this was painful to listen to. wow. what a disaster. what a waste of gigabytes
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An agent's roll is not to get an offer accepted or rejected. They have no control over that. That is a function of the market. Offers get accepted when both parties agree. Trust me everyone knows their "number"....it's negotiating till both parties get to the same one.
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An agents job is to tell you the truth or the likelihood of what can occur. A low ball offer suggests that only one party is aware of the value and is trying to take advantage of that. If that's your strategy, chase "for sale by owners"
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@OvertownWhiteB33136 I agree. I am the same. I look for the properties myself, and do most of the research. all I need an agent for is to open the door to inspect the property. big time buyers market.
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f the banks
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you can listen to an agent who is concerned about, commission and the time and money he has to spend negotiating(which he does not want to do, he wants a quick sale and more money in his pocket, can't blame him that is sales) or you can low ball cash offer, as is. and work your way up. 5 to 6 %? are you kidding me? in this market. you can get that on a non- foreclosed property. my suggestion. bid low, wait till its at auction. keep looking. till you get what you want. bid on 5 hit 1.
kavehahangar 1 year ago 3
@kavehahangar I think the 900 lb gorilla has had his nuts cut off and is willing to sell at all cost!!! Can't blame the agents though after all they just want to make money however they shouldnt be mad at me for lowballing everything. I do allmost all the work on my own anyway.
OvertownWhiteB33136 1 year ago 2