@Zoya Sadiq Anwar Khan I hear this problem over and over again here in Dallas. Here are a couple of things I have done in the past that has helped.
1.) Find underlying value- I found a home that was marketed at 1800 sq ft and really had 2000 sq ft and even found a home with a back apartment in East Dallas to provide two rental income streams. These properties were overlooked by a lot of people which gave me the efforts to negotiate without much competition.
2.) Eliminate competition- On MLS you have a lot of competition, from a wholesaler you have a lot of competition, from a neighbor or friend referral you have no competition and can negotiate directly with the seller. I have done this multiple times and have always gotten at least a 6% discount.
3.) Faster closings- Unfortunately, when dealing with any bank, they want an appraisal and I think they are 20+ days out right now. If you know someone willing to take a risk on YOU, then private money would be a great route to go in order to use as a bridge loan to traditional financing.
Hope this helps!
