Foreclosed Homes in Florida Priced Just Right

This might sound like the easiest of options, but the same basic principles outlined above, apply here.

1 - Do Your Homework

2 - Hire an Expert . . . not a part-timer or a friend

3 - Have Your Ducks in a Row

Poker Time - My only advice to those buyers that think a property is priced Just Right . . . is to put on your poker face and think about what other buyers are thinking. Once you feel you understand the market and a feel for what other buyers might be thinking, it is time to develop your offer.

Two Choices - Offer more or offer less. Matching the listed price is never an option for one simple reason . . . it is the obvious, and it is what inexperienced real estate agents will recommend to their clients. At the very least, offer a few hundred dollars more than the list price . . . just in case there are other offers at list price.

Success Story - One of my clients submitted an offer of $185,412. It was one of those oddball numbers I came up with. The list price was $185,000 and there were two other offers - one at $185,000 and one at $185,100. I had a good chuckle when I found out, because the agent that offered $185,100 was sharp enough to go a bit higher, but not sharp enough to think it through a bit more. Guess who got their Dream Home? My client, because she was willing to "think outside the box" after thinking about who and what were in the box.

Offering More or Less? - Once you determine the property is priced right, it is truly up to you whether to offer more or less. If you must have this home, offer more and maybe kick it up a notch. If this is just one of many homes or you are an investor with patience, go ahead and offer less. There will be more properties. The difference here is whether this is a property for you or a home.


Next - I will be writing about the importance of Cash v. Financing offers and Good v. Bad Pre-Approval Letters.


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