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incredible buy

incrediblebuyOver the years I have worked with many buyers and sellers. Buyers always are looking for an incredible buy, the buy of a lifetime. Who doesn’t want that?

I remember many years ago attending an open house of a property that was being offered for sale by a lender. The property was held open only for a period of two hours and for only one particular day. There were cars parked along the street for several blocks with both the curious and the serious. At the asking price, this was an incredible deal.

I have no idea why there was such a limited inspection window of time and why the low asking price. But then, I have no idea why lenders do what they do when trying to sell property. Lenders make terrible sellers.

The next day, at 12 noon, was the deadline for all offers to be presented for the lender’s consideration. Needless to say, there were multiple offers, over three dozen. The highest offer was accepted and this house was sold.

When we were writing up our offer, I remember overhearing a prospective buyer telling his real estate agent. “If you come across a good deal, give me a call.” I could not help wonder if they had looked at the same property.

Whether you are buying Michigan real estate as an investment, or you are making an offer on your first home, do your homework on the market. Become an expert yourself. Then and only then you will recognize an incredible buy when you see it.

P.S. I saw this sign and was grateful to have my camera with me. I used Photoshop to remove the phone numbers.

Written by Lakeman Jones.