Patientlywaiting in general I do agree with what you are saying 100%. Nonetheless, if an inspector did find out about the work and cited you, you would indeed be responsible to prove that the qork did conform with all guidelines. I know of two people who did indeed get cited years after the work was done and the process was quite a chore to get the work remedied. So yes in general I would agree 100%. In this particular case I did not go into the home nor do I know the extent of the changes so for this home I cannot make a call. On the surface indeed it does look like a good deal was had.
As far as lowballing goes, I don’t think it damages anyone’s reputation at all. I think that lowballing is a great idea and I would advise it to anybody working in any markets but I would advise people to be realistic. You can try to lowball any property you like. I have many clients who routinely ask me to lowball or call on properties scattered throughout the county. In most all of those cases I am finding resistance where the agents politely reject the offer, or do not respond, or those that I call on the agents say thanks but don’t bother sending in the offers.
I absolutely believe if you don’t offer at all you will never know if you would have gotten a deal.
I think we can all see through the efforts of raptor, that the premium neighborhoods indeed are not responding to the type of lowball numbers posters here are implying will work or should be tried. Also I did indeed contest the post made by sandiegobanker in one of Rich’s threads that he was seeing foreclosures go 50% of the listed prices and such. Perhaps that is true in certain neighborhhods, but until I actually see the listing in the sold category, with a sold price that is 50% of the list price, I am skeptical.
As far as finding an agent to write up 100 offers at 50% of the list price, yeah it may work. I would say if you find an agent that will do it, go for it. However, if the agent is indeed that desperate then I would question the quality of the agent as to how did they get that desperate to begin with?
Anyways, lowballs are a good thing. I have been submitting them over the past home I have been looking to buy but so far no luck.
