You can submit less, but you must remember all the details of the deal are variable.We find that if we want to low ball the offer, we have a better chance of success if we high ball the Earnest and remove as many other obstacles from the deal (termite inspections, radon inspections, property inspections, mortgage contingency clauses, sale of other property contingency clause, speed of sale, etc.).We have a member of our REI Club that recommends 100% of offer in Earnest funds.

Crystal ball a little cloudy?

This is less of a concern here in OH (for now at least).Your money down of 3-7% is in the ball-park and will be called “ non refundable option consideration.†My advice is do not compromise on the money down you want if it takes longer to fill than you want.

Most forclosures going for 95% or higher list price and multi offers lots of sales I think prices will continue to sneek up a little through the season but the investors I work with are low balling at the moment and are missing the deals.

If the lender is willing to play ball, and continue accepting payments, then her best bet is to come up with money to make the payments.I know of no way to possibly come up with $350K quickly without having something of value to use for collateral.

Generally speaking, they do not play ball.

IF you cant afford to buy it, then you have to look like a sleaze-ball and back out.

I have yet to have any deals where letting the REO agent double end the deal would have made any different to me getting my low ball offer accepted or not.

In the future I will be equipping all my rentals with wheel barrows so the tenants can load them up with hundred dollar bills or furs or liquor or whatever the medium of barter may be to pay their rent.

In one case, my purchase price was 50% of my original offer price ($22K vs $44K).It happens all the time...banks (and listing agents) just aren't all that on-the-ball these days...