How much Should I offer?
Well I hear that question a lot! In fact that is probably the single most important question in a Realtor’s day! And I am here to tell you that there is no easy answer. There are some easy questions, that may help you figure it out, but no easy answers. Everyone’s brother tells them not to pay more than 50 cents on the dollar, and to try to get it for 30 cents. But there is something important to understand about rock bottom bargain deals!
Bargains smell like cat.
One of the unfortunate truisms is that there is no free lunch. Yes there are occasionally some killer deals that are in great shape, but the best bargains smell like cat. Well not all of them, some smell like mildew, or need every surface cleaned and painted, foundation work, roof work, mold remediation, and asbestos removal. Some have problems that are tougher to fix; like they back up to the all night bowling alley, or the train, or the power lines, or the expressway. The best deals have rotted gutters and roaches, no insulation and building materials that have been targeted by class action lawsuits. The very best killer deals have the floors caving in. I know you think I’m kidding but I am not. Truthfully there are some pearls that need no repair in this low tide of polluted mollusks, but be forewarned that there are hoards of folks just like you out there looking for them as well. The average low priced foreclosure is pretty beaten up. So it begs the question, can you take a sow’s ear and make it into a silk purse? Are you willing to invest either the sweat equity, or the time it takes to manage others to take care of the issues? So that takes us to the First easy question: Do you like fixin’ stuff up?
