I write the one page Letter of Intent rather than do a verbal SDR. It is non-binding and I like the idea of the listing agent getting a piece of paper.
As far a receptivity to lowballs goes, I would recommend not writing any offers for less than 10% under list price, even for competetive list prices. (That is for you people who just “have” to buy now).I mean that for all neighborhoods including “less distressed” ones and absolutely in housing tracts where similiar houses are coming on the market. If they won’t take 10% off …move on…unless 10% of X price doesn’t matter to you.
