Re: Presented LOWBALL offers… - Posted by Joe Kaiser
Posted by Joe Kaiser on April 26, 1999 at 15:09:44:
There IS a way to present lowball offers that doesn’t make anyone upset, embarass the agent or get you pigeon holed as a lowballer . . . you just ask.
I occassionally run into listed property when I’m working foreclosures, and that means I have to actually put an offer together and submit it through an agent. I usually know about what’s owed, and since foreclosure is looming, lowball is pretty much the way it goes. Still, I don’t just write it up and demand the agent submit it because he’s/she’s legally obligated. That’s NOT the way to do it (and you just end up being the butt end of lots of investor jokes - trust me on this one).
Instead, call the agent directly and let him know that you’re looking for a bargain and ASK THE AGENT TO ASK THE SELLER if it’s okay to submit an “Investor” type offer.
Sometimes the agent just says, sure, go ahead, at which point I say, “No, please contact the seller first and make sure they won’t be offended by that sort of offer. If they it’s no problem, please call me back, let me know it’s okay, and I’ll put an offer together immediately.”
Now, what have I done here?
They are so set up to be lowballed that no matter how low I go, they are rarely offended because they themselves asked for the offer (they know I’m an investor and as such, it’s now just business) and in case you haven’t figured it out yet, angry sellers rarely sign purchase agreements.