Strategy For First Offer

[Chris Cozzens]

Ok, over the last few weeks/ months I have dedicated a huge amount of time to learning the basics, learning how to find a deal, what makes a deal, and finding good areas near me to invest in.  

I am now at the point where i have looked at approx 100 deals over the last few weeks, crunched a ton of numbers, seen a few houses, and I think I am at the point of making my first offer.  

I am currently working with an agent on this property which i found on the MLS. I am wondering through experience which shows the best results. I am debating between offering my ideal offer right off the bat, then if they decline/counter with something unreasonable, I will walk away. Or giving them a lowball offer at the risk of offending them, and hope to give them a "win" by eventually conceding to my original ideal/max price.

This may seem like a basic question, however in your experience, which types of offers have you had positive experiences with?  

Lastly, since this will be my first offer ever, any tips?? 

Thanks in advance, 

Chris

[Percy N.]

@Chris Cozzens, there are a lot of factors that come into play...DoM, how motivated the seller is, comps, luck, etc.

I would start by offering 85-90% of your target price and if you are financing, ask for seller contribution towards closing (up to 6%). Most will come back with a counter asking you to drop closing assistance or increase price, or both. Ask for a 45 day closing, which you can reduce to 30 days, etc.

You can then give up something so everyone feels like there is a win-win.