Real Estate Bubble

[deathtotaxes]

beigledog, as I previously mentioned I did not think giving them the letter was a good idea. You effectively gave them all of your cards and turned them off to dealing with you. In their minds, right or wrong, you wanted to steal the place from them. I have received low ball offers from some very creative types. I had one doctor who would call the listing agent on all the new listings and try to use them to represent both sides of the deal. They hoped to get the agent to chip in on the deal by lowering the commission. Then they presented the lowball offer with a sob story of how he just finished his residency and his wife was just out of college and pregnant, etc. and all they could afford was 15% below my asking price. The agent wanted me to play the game and I told her she could trim her commission by as much as she wanted to but still get me my desired net. The next week I got a full price offer and did the deal with nice people who let me rent the place back for a few months at a below market rate!

If the property is still on the market a month from now, offer them $5,000 less, no letter!