Life is filled with insider information that most people never hear about. It’s not that everyone is keeping it a secret, they just don’t talk about it to strangers.
Oftentimes they came across this information the hard way and are not interested in surrendering their edge for free.
Buying real estate is one of those things.
Most people simply assume that the list price on a property in Miami Florida is a relatively fixed amount that is not subject to a lot of negotiation.
The seller might come down a little bit if you can find anything that needs to be fixed but other than that, it is assumed that what they are asking for is the least they’ll take.
This façade is abetted by the desire of real estate agents to maximize their commissions.
Every dollar your agent fights to cut off the price takes money out of their own pocket.
There are ways of buying houses in places like Homestead Florida at 10% discounts or more if you know how to go about doing it.
One of the most important keys to this is to be willing to accept any equivalent properties and not just the exact one you’ve set your heart on.
Suppose you need a house in a certain area of town and everything is listed for around 400,000.
Not every Miami or Homestead Florida seller is listing their house for the same reason.
Some of them may be one step away from foreclosure. Others may be anxious to move to another town.
Still others may not be particularly interested in selling and are just seeing if someone will meet their price.
Suppose that you find 10 properties that meet your basic criteria, and you put 80% offers on all 10 of them.
The chances are good that all 10 of them will be rejected but maybe not. You only need one seller desperate for cash and a quick close.
You may get a counteroffer, or you can up your own initial bid and see what happens.
You have nothing to lose by showing a little patience.
The worst case is you get no action and are no worse off than when you began.
If one of these deals comes through, however, you are instantly cash positive on your new Miami Florida property.
Some sellers are more likely to be receptive to such offers than others.
Anyone doing For Sale By Owner has a lot more leeway since they do not have to pay all those real estate commissions.
The people who put those “We Buy Houses” signs up all over the place are also good bets.
They may have inventory they need to move in order to grab a property they really want.
They aren’t interested in renting but in flipping.
So long as they can make a profit and move on, you might be in the money.
People who obtain properties through tax lien sales are also worth checking out.
They got it for nothing and everything above that is pure gravy.
Just remember the most important phrase of all time: Money talks.
No matter what a house might technically be worth on paper, somebody still has to be willing to pay that.
If nobody is, you have a chance at getting involved at a realistic as opposed to a paper price.
If you are interested in buying property at a discount in Homestead FL or in the Miami FL area, call us or submit the form here to get added to our wholesale buyers list.