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Updated 10 months ago,
Property Status Updates Delayed
I don't mean to come here to constantly post negatively about the Detroit real estate market, but I'm learning a lot from these conversations. I was hoping to post a success story of acquiring my second investment property by now, but I am still looking for a way to secure it. I recently observed while trying to put in offers to seemingly available properties. Real Estate agents are not changing the status of the property when they accept an offer. A person mentioned this could be due to preventing others from lowballing if the original offer falls through. I get this, but doesn't this practice seem unfair?
Bonus question: Is it best practice to offer at the asking price, even if you discover issues with the property? I assume it will help improve the success rate of acceptance. If the inspection report highlights issues with the property, then you negotiate the price.