Raptor you always make very good posts. What you wrote made alot of sense. The best statement was:
patience is the best form of leverage….
I could not agree more.
Come with a strategy but apply some common thoughts. If a home has not been on the market for awhile, getting a lowball offer accepted is very unlikely. Just like the market will dictate what the home sells for, prepare to be frustrated. Make sure you have your financing mapped out. If you are going to be going for a short sale, understand that the period of limbo (from you submitting the offer, to it getting accepted) will be many weeks and more then likely a few months. Know that during this period you will NOT be able to lock your rate… or you can lock your rate but you will be more then lucky if your deal gets done before your lock expires.
Make sure you know what your closing costs will be. Make sure you know how your rebate will work. I am assuming you have a rebate you will get back from your Realtor. Will it be a credit in escrow? Will it be sent as a check after escrow closes? Will you be 1099’d?
Know that if the home you love has been priced very aggressively that it may very well get offers, ALOT of offers. Know that we are still in a period of denial. Know that a few weeks on the market is not a long time. When you run into 3-4 months, then your seller is getting ripe.
The best strategy is patience. Be willing to walk, be willing to wait.
