How to lowball a builder

[sheilawellington]

sd_matt, I don’t think banks have to meet sales targets in a given calendar/fiscal quarter. What I’ve heard from accountant friends, is that internal and external auditors are pressuring the banks (very effectively) to mark their assets to market.

Without this “pressure” banks’ asset managers would be happy to keep a REO property on their books at a fantasy price (say, whatever the defaulted loan amount was). Over time, as they value their assets at more realistic prices, it becomes easier to sell them because they are not as ridiculously overpriced as only a year ago.

[sheilawellington]

Thank you all for the great advice. I’ve found out who the regional SVP of sales is (from a 5-month old LA Times article). Do I just call him and make my offer over the phone? Or do I give my written offer/cashier’s check/bank approval letter to the sales agent, and then call the SVP?

Asking for landscaping, flooring, 5 years of HOA fees, etc., may allow the builder to keep the price a little closer to $900K.

[sheilawellington]

Thank you all for the great advice. I’ve found out who the regional SVP of sales is (from a 5-month old LA Times article). Do I just call him and make my offer over the phone? Or do I give my written offer/cashier’s check/bank approval letter to the sales agent, and then call the SVP?

Asking for landscaping, flooring, 5 years of HOA fees, etc., may allow the builder to keep the price a little closer to $900K.

[sheilawellington]

Thank you all for the great advice. I’ve found out who the regional SVP of sales is (from a 5-month old LA Times article). Do I just call him and make my offer over the phone? Or do I give my written offer/cashier’s check/bank approval letter to the sales agent, and then call the SVP?

Asking for landscaping, flooring, 5 years of HOA fees, etc., may allow the builder to keep the price a little closer to $900K.

[sheilawellington]

Thank you all for the great advice. I’ve found out who the regional SVP of sales is (from a 5-month old LA Times article). Do I just call him and make my offer over the phone? Or do I give my written offer/cashier’s check/bank approval letter to the sales agent, and then call the SVP?

Asking for landscaping, flooring, 5 years of HOA fees, etc., may allow the builder to keep the price a little closer to $900K.

[sheilawellington]

Thank you all for the great advice. I’ve found out who the regional SVP of sales is (from a 5-month old LA Times article). Do I just call him and make my offer over the phone? Or do I give my written offer/cashier’s check/bank approval letter to the sales agent, and then call the SVP?

Asking for landscaping, flooring, 5 years of HOA fees, etc., may allow the builder to keep the price a little closer to $900K.

[Author]

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