Are there any other offers on the table or do you think it will be a multiple offer bid? If so look into using an escalation clause (if that is allowed in GA)

Basically allows you to overbid a small amount ($1,000) over the highest bidder not to exceed a certain price.

So for numbers sake lets say they are asking $300,000. You dont want to pay more then $290,000 for it. But dont want to offer that. You would do an offer of say $280,000 with an escalation clause of $1,000 not to exceed $290,000. So if there is your offer of $280,000 and another of $285,000 you will get it for $286,000

This was common during the height of the market when people were in a buying frenzy but not as common now. Still a good tool though to keep in your pocket.



Sean Dawes

You can't insult the bank, however remember your low offer may cost you the house you want if
someone else comes in while you are negotiating with the bank.

Realtors are obligated to take any offer that is made to the seller. If it is bank owned the bank gives priority to buyers who are going to occupy the home. They take several bids and then choose the best offer. The highest bid does not always win if the buyer is not going to occupy the home. I would be glad to help you through the process. You can reach me on my cell phone at 706-951-3940.

What does your agent say, Moving? If you don't have one, you should. A good one can tell you exactly where to start based on the activity in your area. And it's free to you, as the seller has already figured a buyer's side commission into the deal. Unrepresented in this scenario would be unwise, in my opinion.

No offer is insulting. If the home has been sitting make what ever offer you want. Just understand that if it is so far under what it is truely worth, you just might not get the deal.

If it is overpriced the seller, in this case the bank, will need to understand this and take a reasonable offer.


Sean Dawes