Two Offers on Same Property

[Martin Zawarski]

an estate home came on the market this week. I am a buy and hold guy and it was underpriced by about 20,000 at 129,000, and is a 3/1.5. I saw it immediately and couldn't believe it was in move in shape. I could easily get $1,375 a month rent for this. All my home purchases in the last year were homes I had to put money into, but not this one. Great carpet, new heat, air, windows, even was newly painted, this home is nice. Home was staged and showed well.

So I turned in two offers at the same time. The first was a full price offer with the owner taking a second at $25,000 and the first would be a conventional loan . The second offer I thought would be a low offer at 121,000.

Well they accepted the second offer. I never used this strategy before and I am sure it made them think and think again about the deal , but I am happy either way. ----thoughts please .