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So You Think You Want to Make a "Lowball" Offer - Attention Buyers - Read What A Seller Told Me Today
Today I had an unusual opportunity to speak with an investor who has had an investment- gone-bad listed for over one year.  It came close to being sold at Trustee's Sale this month.  Just in the nick of time, an offer came through and the Trustee's Sale was postponed to next month.  Unfortunately, the buyer just backed out.
The reason I was speaking directly to the seller was because the listing agent seems to have disappeared (temporarily I hope).  The office phone number is no longer working and the cell phone number is not accepting any calls nor does it have voice mail.  Fortunately, the owner is also a broker so I felt safe in contacting him directly for information. 
I was calling with some pretty normal questions about the property and to check to see if it made sense for the buyers I'm representing to make an offer.  When I asked if there had been any offers, the seller said, "Yes, there had been seven offers so far."  He went on to say that, "There were only two that we took seriously and presented to the bank. The rest were ‘bottom-feeders' just scavenging to see what they could get.  Frankly, ... more

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