If it's a good house that will sell close to ask, no ones entertaining a low-ball despite any list or persuasion that's submitted with it.This can definitely work on a property that has sat on the market a while, is in question shape, or has other issues (bad tenants).Jacob

If you submit an offer during owner occupancy only period and do not plan to occupy the home as your primary residence you are running a large risk and would recommend against it.I've heard of investors that did this, then got told on by another investor that was looking at the same property.

There is a pull down for rent deposit, when you submit deposits.It appears that I might be in breach, since I had no idea how this instrument worked until now.

After a week or two, they will get investors they know to submit lowball offers well below the listed price.

The buyers lender submitted it on my behalf.

@Adam Burns Cash helps when submitting offers.

If you want to buy a property, absolutely get a preapproval, a Real one.....where you have to submit tax returns, w-2's, bank statements, etc.You don't really know what ou can buy until you get one.  

Question:  when I submit it back to the seller would you typically ask the seller to take care of the larger issues, like structural issues, new furnaces and new electrical service or do you ask for a price reduction? 

I've come across these before and did not submit an offer on one.

Haven't submitted the contract yet but seller has noted that they would be willing to credit $20k.