Do your research, learn your market, and follow your instincts

[JT Spangler]

Saw a stupidly good deal come on the MLS (I get listings every day for the last 3 years, and this is rare in my area of Nashville). The listing came in late Friday/early Saturday. I looked at the records online and ran the numbers, but I was already pretty sure it was gonna be a cash cow (in a neighborhood bordering a huge boom, so a major appreciation play as well).

I was out of town, but I told my agent that I wanted to see the place Sunday night when I got back and get a strong offer in Sunday night so they'd see it Monday morning (it's bank-owned, so I knew the offer was everything). 

She convinced me to wait, since she was out of town and the seller wasn't looking at any offers until the 7th (Wednesday). That would give her time to show me the property and me to speak with some HMLs. I grudgingly agreed. 

Yesterday she emailed me to say they'd accepted an offer and the place was under contract. 

That place is going to make someone a pile of money, and I could've made a strong offer before anyone else did.

The lesson: do your research, learn your market, and then trust your instincts.