Question:
“What’s the best way to get a good deal? We’d like to find a home at least 20% below market.”
Answer:
Not sure how to answer that, but I’ll try.
First of all, not to sound harsh but your odds of success are just above zero, if that. Opportunities to buy property at such a discount are extraordinarily few and far between. In my 35 years, I’ve perhaps run across a dozen such cases.
If you insist on looking, here’s what you need to do:
- Have the financial ability to pay all cash.
- Devote most of your waking hours to your search.
- Be ready to offer immediately when a good deal comes up.
- Be prepared to write hundreds and hundreds of offers, knowing that none of them may be accepted.
- Be ready for it to take several years.
