It’s Day Three and I’m making offers.

I got a call back from the lady with the ad that said,

“…must sell by Friday”

I set up an appointment with her at 10:30 am today and took a look at the property.  This is what I saw when I pulled up.

YIKES

I wasn’t too excited when I saw the outside, but when I got inside it got better.

Ahh..that's more like it.

After speaking with her for a few minutes I asked why she was selling.  She told me some long drawn out story about some money she borrowed and she had to pay today or she would loose the property.  After building some rapport with her I asked,

“How flexible are you on the price?”

After some himming and hawing she told me she could bring it down to $5,000 if I bought it today.  That was a 23% discount off her asking price.  Not bad.

I told her I couldn’t pay more than $2,000 (the magic number) and she said she would take the $2,000 as a down payment and finance the rest.  I said that I really didn’t want to waste her time because all I had was $2,000 and I wasn’t willing to make payments.  I told her, “If you reconsider, give me a call,” as I walked to the door.

She said, “Wait! How about $4,500, that’s what I owe on the place.”  I told her, “I’m sure you can find someone to pay you that price, but I just can’t.”

After a little more chit chat I left and told her to call me if anything changed.

I also went and saw the other mobile that was referred to me by a friend and I was not impressed.

Not such a nice site

This thing needed more work than the guy had mentioned on the phone.  I didn’t even bother to take too many pictures because I wasn’t interested due to of the amount of repairs.

After a short discussion I asked him if he could work on the price and he said he’d be willing to go down to $2,500.  That was a 35.6% discount off his asking price. Although that was a decent discount I said,

“The most I can pay for this place is $1,500 because of the amount of work it needs.”  He was insulted and showed me the way out.

It’s day number three and I’ve made 2 offers on two properties. Have you made any offers?  If you’re not out there making offers than there’s no way you’re ever going to buy a property.

For those of you playing along at home, this weekend’s home work assignment is to make an offer on at least one property.

Tell us about the offer you made in the comments box below.