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Updated about 8 years ago on . Most recent reply

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102
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Chris Pohlson
  • Investor
  • Sioux Falls, SD
113
Votes |
102
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Letter explaining low offer for MLS property?

Chris Pohlson
  • Investor
  • Sioux Falls, SD
Posted

I'm looking for opinions from some BP'ers that have had success purchasing off the MLS at discounted prices. After running numbers on a triplex, I contacted my RE agent to make an offer at about 65% of asking price. I gave her my explanation and she asked if I would like to type a letter to the seller explaining my reasoning behind the low offer. If that would help, I'd be all for it. Has anyone else had success with that? Is it common in the REI world? Any other advice from experienced investors would be appreciated! Thanks!

Most Popular Reply

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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
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23,418
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

I would say it's useless.  Sellers don't care what your reason for a low ball offer is....they've already discussed values with their agent.

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