It's impossible to offer TOO LOW!

[Frank Adams]

A couple of months ago I drove past a place on the MLS for $52K, peaked in the windows and it seemed clean and straight. Looked like someone had spent some time fixing and painting, nothing fancy, just basic house.

About a month later I'm playing golf with an agent friend of mine who mentions that this place might be in my price range. Too high I said, I own one almost across the street that's bigger, newer, more bells and whistles that I only paid $51K for 3 years ago. Agent says that the owners got it last year, estate deal, and put about $8K into it and didn't think they could take less.

For the life of me I couldn't see what they could have put $8K into, roof is not new, exterior is old T-111 and it doesn't look like it had been recently painted. Anyway on a hunch one day I had her write and offer for $37,350. Three days later they countered at $49,500, I countered at $39500 and got a deal last night at $44,500, all cash.

I probably paid a thousand too much but I'll have it in Friday's paper on my usual offer: 2/1, owner will finance with $2,000 down payment. I expect I'll get close to $60 for it since my buyers typically are "payment buyers", not price buyers.

Remember newbies, you can never offer too little.

all cash