First offer of less than 65% of $129,484 ARV rejected. Seller Agent has it jacked up 35% above Total Tax Value @ $140k :huh …property only been on the MLS 41 days…this propety is listed by by Century 21 (heard that they are some tough folks to work with )
Not wanting to risk sounding desparate…is this where I wait and re-bid every 30 days?
Don’t get caught up on one offer. If you are seeking great deals, most of the offers you make are going to get rejected, so you have to get used to it.
Make a note on a calendar or in a spreadsheet to come back and resubmit in 30 days, and move on to the next one. Rinse and repeat.
Steph :cool
Thanks TampaSteph,
I remember this advise from you on another thread…moving on to the next one…Question…do I re-submit the same offer till I wear them down or do I slowly work my way up to 70% ? :eek2
If the offer still works, submit the same one.
Mine usually get lower as time goes on, since the properties I go after (REOs) are sitting vacant in crappy neighborhoods, and declining in value.
Steph
thank you. 
Very often, “Total Tax Value” has absolutely nothing to do with reality. Hopefully the agent did a CMA to determine the property’s value.
From their website: “Century 21 Real Estate LLC (century21.com) is the franchisor of the world’s largest residential real estate sales organization, providing comprehensive training, management, administrative and marketing support for the CENTURY 21 System. The System is comprised of approximately 8,000 independently owned and operated franchised broker offices in 68 countries and territories worldwide.” I don’t think that you can say with a wide arm-sweep that ‘Century 21 are some hard folks to deal with’ - that’s going to vary from area to area. Your local C21 agents may be a problem. I’ve had some excellent dealings with C21 agents.
Keith
Keep making offers…Just think that while you wait around…other people are actively making offers and (presumably) getting these properties and making money.
I know it gets frustrating…but despite what the news media sometimes says that “nobody is buying”
There is a lot of competition out there for good deals…
It makes sense though…I think people still view real estate as a more “solid” investment than the stock market… At least you can still rent out and cover costs in the meantime if you can’t sell it,etc.
Thanks guys…Keith…I realize now, that this the "Total Tax Value "may not be used to determine the ARV…just my way of understanding what the Tax Man is interpreting things…I got the comps from the my agent, after reviewing them …looks like she is right on the money…In this chase the ARV places this home at $129k.
I’m just adamant about making a deal out of it…which is the mantra of all investors.
Investorman…I’m sweating the small stuff…gotta keep making those offers on the next one in my pipe line…i’ll just keep an eye on it and revisit after 30 days.
One estate sale I’ve made offers on 3 times over the last YEAR. First offer was before they even had a real estate agent, last 2 offers were with their agent. The property is still for sale a year later and I’m about to make a fourth offer at the exact same price as the previous 3. Some people just don’t get it.
Offer what you believe it is worth and not a penny more.
jmd_forest
jmd_forest…thanks …this is helpful info…i’ll wait & see what happens as the days go by. :cool