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Updated over 4 years ago on . Most recent reply
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Why not low ball when you know the seller is motivated?
I've done a few BRRR investments and my strategy is to buy at 75% of the AVR including closing costs and repairs. I'm looking at a deal where the seller is motivated due to a 1031 exchange. I told my agent I wanted to be all in at the above numbers and she simply replied "Then this is not the house for you".
I'm confused because I don't see why I shouldn't just offer what I'm willing to pay so that the numbers meet my strategy. It seems like the worst thing that can happen is that the seller says no.
Is there something I'm missing here?
Most Popular Reply
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If you lowball too soon the seller will just announce there is an offer in the table and drive up the price. You’ll be a tool to their success.