All Topics / The Treasure Chest / low ball offers Take 2.
Steve as you are not an advocate of low ball offers what do you think is an adequate discount.
EG. FMV 200KI was thinking that 10% is suffice. The first 5% is normally negotiating room added on by agents. I would offer 190K and ask for a 10K rebate for costs. Wrap for about 220K. Is that to much of a premium for a wrap. Exit strategy refinance in the next 3-5 years.
Loan IO. Pull out about 600 cash-flow a month. Not much back-end left as my loan IO but it does allow me to get out of a job. The first 5-10 will be io and the rest P&I.
Hi,
I don’t think that there’s a rule of thumb to apply here. Try to negotiate the best discount you can that still results in a win-win outcome.
Sorry to be vague.
Based on the deal that you mention, I think you understand that if it makes money then trying to save a few sents may cost you thousands if you miss out.
Just be careful with the rebate clause that it is properly documented in the contract.
Bye,
Steve McKnight
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