How To Find A Great Real Estate Deal
Quite often, real estate buyers contact me. They describe what they want in the way of a home or investment property. Almost always, their final request is that I keep my eye out for a "really great deal".
I fully understand that everybody these days is looking for a great price on a piece of real estate. The problem is that most buyers don't understand how to get a "really great deal", and asking me to keep my eye out for one is not the way to find and purchase undervalued property.
If you want a really good deal, buyers need to get really aggressive in their offers.
Right now, there are a lot of sellers who are desperate. They need to sell as soon as possible. Buyers need to take advantage of that kind of situation and make offers that they consider to be in the "good deal" category.
Essentially, buyers need to go looking for property they like. When they find it, make an offer that represents what they are willing to pay for the property. If the buyer refuses it, or does not come back with a counter-offer of some kind, be prepared to move on to the next property or increase the amount of your offer. It is as simple as that. In other words, buyers need to create their own "really great deals" -- and in today's real estate climate that's not as difficult as it would have been two or three years ago.
One word of caution to buyers. Don't go around making lots of low-ball offers on various properties. If you do, your real estate agent will quickly determine that you are what we call a "bottom-feeder" -- somebody who is trying purchase property at unconscionably low prices. Once an agent determines that you are a bottom-feeder, the chances are pretty good that the agent will fire you as a client. Making legitimate low offers is one thing. Trying to steal real estate is quite another matter.
For more information on real estate in Pinellas County, visit my website at http://www.thestpeterealestatesite.com/.
I fully understand that everybody these days is looking for a great price on a piece of real estate. The problem is that most buyers don't understand how to get a "really great deal", and asking me to keep my eye out for one is not the way to find and purchase undervalued property.
If you want a really good deal, buyers need to get really aggressive in their offers.
Right now, there are a lot of sellers who are desperate. They need to sell as soon as possible. Buyers need to take advantage of that kind of situation and make offers that they consider to be in the "good deal" category.
Essentially, buyers need to go looking for property they like. When they find it, make an offer that represents what they are willing to pay for the property. If the buyer refuses it, or does not come back with a counter-offer of some kind, be prepared to move on to the next property or increase the amount of your offer. It is as simple as that. In other words, buyers need to create their own "really great deals" -- and in today's real estate climate that's not as difficult as it would have been two or three years ago.
One word of caution to buyers. Don't go around making lots of low-ball offers on various properties. If you do, your real estate agent will quickly determine that you are what we call a "bottom-feeder" -- somebody who is trying purchase property at unconscionably low prices. Once an agent determines that you are a bottom-feeder, the chances are pretty good that the agent will fire you as a client. Making legitimate low offers is one thing. Trying to steal real estate is quite another matter.
For more information on real estate in Pinellas County, visit my website at http://www.thestpeterealestatesite.com/.
-30-
posted by Terry Ward at 8:33 AM
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