One Way To Buy A Cheap House
Below is a MRR and PLR article in category Finance -> subcategory Real Estate.
One Way to Buy a Cheap House
How to Make a Lowball Offer Work for You
Buying a cheap house may seem challenging, but one simple strategy can help: making a low offer, often known as a "lowball" offer. While many people know of this approach, few are bold enough to use it. When done correctly, it can lead to great savings, but attempt it incorrectly, and you might waste time or feel embarrassed. Here's how to use this technique effectively to potentially secure a less expensive home.
Understand the Low Offer Strategy
A successful real estate investor once advised me, "If you aren't embarrassed by your offer, it isn't low enough." This investor has made millions, so his words carry weight. Remember, a truly low offer is rarely accepted upfront, but that doesn't mean it's futile. Instead, it often leads to counter-offers and can shift the seller's expectations.
Lower Expectations to Your Advantage
Consider this scenario: when I sold my car, a polite buyer offered me half of what I was asking. Although I initially declined, his offer made me question the car's value and adjust my expectations. Before I could call him back, someone else bought the car at full price. This demonstrates how initial low offers can make other offers seem more appealing.
When you offer significantly less than the asking price, say $160,000 for a home listed at $200,000, the seller will likely reject it. But the negotiation isn't over. Through back-and-forth negotiations, you might reach an agreement at $182,000?"a price the seller might have deemed too low initially. Now, it seems like a win for both parties.
Weigh the Risks and Rewards
Be aware that using this strategy can mean losing out on some homes. Some sellers may be offended by a low offer and refuse further negotiations. Therefore, this approach is best suited for those with time to shop around and who are focused on getting the best deal possible.
One investor in California made multiple offers at once, each 25% below asking prices, including an inspection contingency. While most offers were rejected, the ones that were accepted provided substantial savings. This method proved effective in securing great deals, showcasing just one way to buy a cheap house.
In summary, while making a low offer can be a gamble, with patience and strategy, it can lead to securing a home at a much lower price.
You can find the original non-AI version of this article here: One Way To Buy A Cheap House.
You can browse and read all the articles for free. If you want to use them and get PLR and MRR rights, you need to buy the pack. Learn more about this pack of over 100 000 MRR and PLR articles.