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  1. #16
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    With all due respect, I have to disagree about offering low ball offers. Most people own 2nd houses because they can afford them...By making an insulting offer only makes you look stupid (IMHO) and will not get it bought anyway, so why not make a fair offer and get the deal done? Back when we had the big house for sale during the down turn, If I got an insulting offer, I took great pleasure in insulting them back, just saying.

    Granted, If you wait long enough and the right deal comes along where peoples life's have changed,You don't care where it is or what it is, just that you got a killer deal... But if you are looking, why not get the house where you want it, for a price that everyone can feel good about.
    B&B
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  2. #17
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    Cedar Rapids, Iowa- 1MM Grand Glaize
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    A couple of months ago we made an offer on a property that was $150k under asking, which was $200k less than the original asking price. Through homework I found that the property was actually about 25% smaller than advertised and the city would not allow zoning as advertised. Asking price is sometimes a figment of a sellers imagination. I have also made initial offers of over ask when the value was there from my perspective.

  3. #18
    Join Date
    Jul 2006
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    LOTO 9MM Niangua and Marco Island Fl
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    Quote Originally Posted by Dredd View Post
    Also nothing like sitting on the deck sipping coffee watching the grounds guy dust the spider webs off the dock. :D I hand over my HOA fees with a smile.

    Just messin... I agree that if it's your only residence and you have the time and physical ability then there are likely more benefits to a house.

    Some other members have started full time with a modest condo while learning the lay of the land then moved on to a house after a short time. Even with the market as it is, that is probably still not a bad way to do it.
    I watch the landscaper mow and the bug guy kill bugs at my house, just have to trade the HOA fees for contractor bills, it's called having your cake and eating it too.
    Never liked those loud obnoxious boats, until I bought one of my own.

  4. #19
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    Quote Originally Posted by 36Tango View Post
    A couple of months ago we made an offer on a property that was $150k under asking, which was $200k less than the original asking price. Through homework I found that the property was actually about 25% smaller than advertised and the city would not allow zoning as advertised. Asking price is sometimes a figment of a sellers imagination. I have also made initial offers of over ask when the value was there from my perspective.
    Just out of curiosity, were you able to purchase it at the low ball offer? If not, did you even come to terms later and get it bought?
    B&B
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  5. #20
    Join Date
    Jun 2004
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    Cedar Rapids, Iowa- 1MM Grand Glaize
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    Quote Originally Posted by bajaholic View Post
    Just out of curiosity, were you able to purchase it at the low ball offer? If not, did you even come to terms later and get it bought?
    Did not get that property bought, but buy the same token, it still has not sold. That said, they did change the ad to reflect the negative changes that we uncovered. We just do not get emotionally attached, and truly look at it from a numbers standpoint only. We do the same with "distressed" businesses. We buy them for the right price, "fix" them up, and then either hire the management of them or sell. It seems that every week or two, some kind of "deal" presents itself, but we only act on the great buys. Whether real estate or businesses, you have to be a very disciplined investor or you can really get your ass handed to you.

    Of course, all of this is just my opinion and is worth the paper that it is not written on!

  6. #21
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    Quote Originally Posted by 36Tango View Post
    Did not get that property bought, but buy the same token, it still has not sold. That said, they did change the ad to reflect the negative changes that we uncovered. We just do not get emotionally attached, and truly look at it from a numbers standpoint only. We do the same with "distressed" businesses. We buy them for the right price, "fix" them up, and then either hire the management of them or sell. It seems that every week or two, some kind of "deal" presents itself, but we only act on the great buys. Whether real estate or businesses, you have to be a very disciplined investor or you can really get your ass handed to you.

    Of course, all of this is just my opinion and is worth the paper that it is not written on!
    I agree for strictly investor purposes getting the "great deal" would be important and since you are really only looking at it in numbers, it pays to see what stick's because there is absolutely no real attachment anyway. BUT if you want it for yourself, I say use the plan of working it out realistically. Because if you cant come to a deal, you will not get it. Kind of defeats the purpose...
    B&B
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  7. #22
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    May 2004
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    I am in the market for a good fixer upper to flip, if anyone knows of any

  8. #23
    Join Date
    Sep 2004
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    columbia MO & heron bay/ harbour bay
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    I don’t see what the problem is with making an offer on a property no matter what price it is. I have bought and sold properties and made low offers. I was successful on some, not successful on some, and some we eventually got to a price we both agreed on. I’ve been on both ends of selling/buying and it comes with the territory. I do think you are less likely to get a low ball offer if listed by owner on a house, boat or car because it is then personal. I probably would just walk away vs making a low ball offer or attempt at buying it in this situation, but if listed with a broker or on a lot I will offer what i’m willing to buy it for and they can take it, leave it or counter back. When I sold a condo at the lake I had a few low offers that some I just said thanks and others I countered back with my best price. Contracts can differ to with what’s needed to close that may persuade a seller to take a low offer.
    You never know what the situation is or why someone is selling. When you make an offer high or low it becomes real and normally comes with a contract and earnest money down. Especially at the lake Houses can be priced according to comps but the real price it’s worth is a calculation of how quick they want to sell it and how much someone is willing to pay at any given time.
    I know people that have just decided “I’m done with the lake “ for whatever reason and sold out condo, boat, and sea doos and could have held out for more money but they already had their mind made up they were done and took the first offer they got.
    Live, Love, & Laugh

  9. #24
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    Aug 2004
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    Quote Originally Posted by 36Tango View Post
    Did not get that property bought, but buy the same token, it still has not sold. That said, they did change the ad to reflect the negative changes that we uncovered. We just do not get emotionally attached, and truly look at it from a numbers standpoint only. We do the same with "distressed" businesses. We buy them for the right price, "fix" them up, and then either hire the management of them or sell. It seems that every week or two, some kind of "deal" presents itself, but we only act on the great buys. Whether real estate or businesses, you have to be a very disciplined investor or you can really get your ass handed to you.

    Of course, all of this is just my opinion and is worth the paper that it is not written on!
    Speaking of that....is the Cape Coral car wash still on the books?

  10. #25
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    Aug 2016
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    A person is free to put in any offer on a property just as a seller is free to list at any price.

    Just because an agent is invloved doesnt mean the asking price is going to be the selling price. Many times an owner says they want it listed at x and the agent lists it at that. You also see price reductions from the agents estimated value. A home that is on the market for an extended is probably over priced.

    I would say places like the lake can be the hardest to value both from a sellers and agents perspective. The homes are so disimilar, lot slope , shape, view etc. Even buyers and sellers motives are so much different than buying in a city.

  11. #26
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    Cedar Rapids, Iowa- 1MM Grand Glaize
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    Quote Originally Posted by THE GHOST View Post
    Speaking of that....is the Cape Coral car wash still on the books?
    Well, kind of. We sold it a few months ago, but with a solid amount down, we are holding the contract on it. Funny you ask, we just drove by it about 10 minutes ago and some friends asked the same thing the exact same way (still on the books?).

  12. #27
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    Quote Originally Posted by Justfishing View Post
    A person is free to put in any offer on a property just as a seller is free to list at any price.

    Just because an agent is invloved doesnt mean the asking price is going to be the selling price. Many times an owner says they want it listed at x and the agent lists it at that. You also see price reductions from the agents estimated value. A home that is one the market for an extended is probably over priced.

    I would say places like the lake can be the hardest to value both from a sellers and agents perspective. The homes are so disimilar, lot slope , shape, view etc. Even buyers and sellers motives are so much different than buying in a city.
    Amen!

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