opinions on low balling bids

The way I see it, as an investor I am out there to do the best for myself not others. In a real estate boom (like now), you are likely to always pay too much when buying. I always ensure that I pay a low enough price to ensure that if I need to get out of the property quickly then I will not suffer too much of a knock. This practice mandates the use of “low-balling”. There are however some people out there who are more concerned that they dont offend others than protecting their own financial position. These people are responsible for prices being higher than they should. These are the people who do not understand that the asking price is not always a fair price and therefore are willing to pay close to the asking price so that they dont cause the seller any misery. Just do yourself a favour, check the last price at which the property you are wanting to buy was transacted at and that will give you a good idea of how much profit the seller is looking to make. In only very few cases will the asking price not be much over the last transaction price. This is often due to silly people paying too much in the first place or a declining market. Neither of these 2 reasons should be good enough motivation for any investor to buy poorly. I just cannot understand how some people think they can get ahead of the pack and become financial independent without doing it at the expense of the pack. Do they really think that communist ideologies and capitalism can be blended harmoniously. I think they are kidding themselves.

Hey Guys,

Another important thing is, if you can buy a property undermarket value, if you are in trouble at least you can offload this property, at a market value.

Doing this you are able to mitigate the risk and have less or little to worry about, if problems or rising situations occur.

cheers,
s.i.s

“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”