making an offer, page-51

Nice one MF.

We bought a home after low balling their asking price.

The block three doors down was for sale, and we know who built the house that we were looking at, and considered building, but couldn't be shagged.

Remember, the buildings depreciate, it's the land that holds the value.

So we based our offer on what it would cost to build down the road including pad, shed and landscaping. It was $110,000 lower than the vendor's asking price. We finally picked it up by moving $10,000, and securing the property for 12.5% lower than what they wanted.

The agent was sick of the vendor, and told us to make the offer, and he would just leave it with them. Every time the vendor's wife would walk past the cash offer on the kitchen bench, it would play on her mind.

We won.

The vendors were really not happy, but they took the price.

Stick to your guns. There are always other properties.