Acquisition Strategy 6

As a novice investor, when you decide to make an offer, don’t be intimidated. If your research tells you to offer 20% below the asking price, then hold firm and make this your offer. The agent may balk while the homeowner gladly accepts. You won’t know until you make the offer. If the listing term on the house is expiring and the agent hasn’t sold the house and is in danger of being replaced, a formerly hostile agent can quickly become your best friend and ally.

There are many reasons why people sell houses. Maybe there has been a death in the family and the survivors want to leave the house because of memories. Maybe there is a new baby and a larger house is needed. Maybe there is a lost job or a new job. Perhaps the owners don’t want to do any more maintenance. The owner could have had a fight with the neighbors. Sellers can have many motives which are not your concern. Your single concern will be price and terms. If you don’t get what you want, you move on to the next deal. For you, there will always be a next deal. It is not necessary for you to love a home to profit from it. This is now your business. What happens if the sellers don’t like your offer? They can reject it. The sellers are holding the cards and you are not. When it becomes your turn to be the seller, you can decide to accept or reject offers.

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