Help! Made an offer and need some answers

[Bradlee T.]

Okay so I am new and don't know where to post this, so i am sorry in advance. Okay, so yesterday I made an offer of 1m$. The listed price was 1 050 000$ and my strike price is 945 000$. Is it okay if I offered more than my strike price just to get accepted first and then after the inspection I would renegotiate below my 945 000$ strike price and then negotiate from there? Was it wrong from me to do this?

Thank you!

[Chris Sellers]

Bradlee,

Congratulations on finding a deal that works for you.  I don't like using this practice.  It's disingenuous.  If you do it a lot,  you'll likely get a bad reputation and people won't want to do business with you (or they'll counter you with a large DD fee that you'll lose if you try and back out).

Good Luck on this one!

Chris