Posted by Ksna on November 19, 2008 at 11:47:37:
In Reply to: Re: Help! Newbie made rookie mistake. posted by Mark (SDCA) on November 19, 2008 at 09:15:20:
Thanks for everyone's feedback. I knew it was risky when I made my 70% of asking offers, so I put the inspection clause in the LOI.
I figured if I walked through and it didn't support the price, I'd simply back out. In DC there is a ton of surplus, but many sellers are still way too high.
Question is: using my strategy on the MLS, how low should I go, 50-60% of asking? I'm getting responses, but must aren't willing to go as low as low as 70%. I use a 7 day inspection clause to give me time to do my due diligence, but finding a buyer/investor in DC has been slow.
- First, use comps not asking Rich-CA 19:13:51 11/19/08 (0)