Cheap, Bargain, Real Estate; Good deals, below market, low priced properties are available …

Cheap, Bargain, Real Estate; Good deals, below market, low priced properties are available if you know how to buy them. By Jody Hudson – Real Estate Agent Since 1972. How to FIND and BUY: Cheap Real Estate, Good Deals, Below Market, Low Prices and Less Expensive; homes, lots, land, businesses and condominiums. They are everywhere and easy to find. Here’s how to find and buy them from anyone, anywhere. This article describes the steps: How to find and buy a bargain, a good deal, in real estate; namely; How to get it really cheap! Yes, there are ways! Almost every call or email I receive asks me to find a bargain for the buyer. We all feel that way when we also shop. We all want a good deal. We all want to get cheap real estate. And we can all do it. However, there is a little challenge. Every buyer I have had in my thirty-two years of selling real estate has wanted to sell the property they own for more than it is worth. Here he sets our challenge as real estate agents and of course for you as buyers. To get those HOT real estate deals, there are at least three things you need to do: 1. First, as a buyer, you need to be able and willing to act faster than any other buyer. 2. Second, you must be able to know a bargain when you see it. This requires experience and education in the specific market. Any assumption that is made of other markets, about the market in question, will sentence you to a certain failure … 3. Third, you must BUY it. That is, write a deposit check and write a contract that will be imposed on the other contracts that can be submitted at approximately the same time as yours. This group of three steps seems simple, but only one buyer in every ten year period is willing to do these three things to get the cheap property they have asked us to find for them. I have several people, and also most of the real estate agents, which are the majority; ready, willing and able and we call them first! If you want to be one of those called, you must be MORE ready, willing and capable! Recently, in August 2002, the oceanfront home next to ours was listed for $ 249,000 and was worth about $ 350,000 at the time. Kate and I called each of our family members, our wonderful neighbors on the other side (one of whom is a local builder and the other a mortgage broker) and some of our best clients and a best friend of ours, a builder and investor, who had already said that he liked the beautiful house. (Note that the property is now worth around $ 800,000 as of September 2004). We explained that the house would go on the market in a few hours and that they had to act quickly. Our neighbors on the other side, the most knowledgeable of the bunch, wanted to make an offer of $ 180,000 saying they thought that was all the property was worth. They knew better or at least they should have and they should have bought it. They just “hoped” they could get it for less and that they didn’t have to move fast. The offer they made was ignored and wasted our time. However, they got another property in a few days, for a lot more money, which was worth a lot less, as a result of better alertness and awareness after losing the one next to us. Our smart investor friend made a couple of offers below the ask price with various contingencies. In the meantime, we are telling everyone to write a full price contract with no contingencies and to call both phones as quickly as possible. None of our best friends or family would pay attention. They were all too greedy. They knew the property was way below the price, but they wanted it for even less … Lesson: When it’s a good deal, ACT instead of getting more greedy and losing the deal altogether. Then our lovely new neighbors came and looked at the property. They were also knowledgeable about similar properties and had lost several properties they liked by moving slowly, writing unreasonable contracts, and not paying attention to actual values. This time they did it correctly. In fact, they wrote a contract on the spot, with no contingencies, and for MORE than full price, so if someone offered full price, they would still have the best chance. They paid $ 5,000 more than the full price on the spot, told the sellers they could settle anytime they wanted, and before even hearing from the sellers, they agreed to a mortgage of MORE than they needed and asked the money to be available immediately. They didn’t ask for a home inspection, survey, or for sellers to fix anything. The house is 30 years old and has not had a bit of maintenance. There was a burst hot water tank, a roof that needs to be replaced, and some BIG cracks in the foundation. All of these problems cost them about $ 15,000. As I write this, they have owned the property for several months and worked on it every weekend, before being able to take a break and enjoy it. They love. If they had to fix all the things that need repair, paint the trim and refresh the garden and landscape; We could get $ 900,000 to $ 950,000 for this house for them in a few months on the market. And, the city sewer will be here in a few years, at which point the property will instantly increase another $ 200,000 and all the people we called knew about the pending sewer as well. Buyers did not find out about the arrival of the sewers in the city until after they had contracted to purchase the property. The sewer is not in yet – WOW. They are glad they did the One, Two, Three to make this happen! By doing the three things listed above, the next-door home buyers have made the smartest purchase decision yet in their lives and have one of the best deals that have been available in recent years. The sellers are also happy, as they just wanted to sell it as quickly as possible, due to a sudden and dangerous illness of one of the owners. I am writing this article to serve the reader. But you should know that you are also selfish. Much of our time as real estate agents is spent trying to successfully educate our buyers and sellers. If they followed our advice, they could be much, much more successful in selling or buying. The articles that I write here [http://www.kate-jody.com/essays/index.html] It is those advice that I give to my clients and clients, if they ask me. Most don’t, and when they do, very few follow the advice. As in any other profession, we professionals do what we can to help those who approach us, but it is up to them to follow the advice. There are always cheap houses available, but difficult to sell. They are homes that need some cosmetic repair or improvement or that are in a transition zone. We have several on the market at the moment and they are hard to sell. Someone with vision will eventually buy them, fix them, and perhaps sell them at a big profit, often to someone who says they want a bargain but won’t do whatever it takes to get a bargain. It’s funny isn’t it? And this kind of thing happens all the time. It has happened consistently in my 35 years in the real estate business and being a licensed real estate agent since 1972. Just know this, if you want a repairman, so does everyone else, but you have to be very, very, polite and capable. spending time and money to renovate the property effectively and affordably. And you need to do one, two, three! If you want a bargain; Get informed and be ready to DO: One, Two and Three. We will try to help you. By Jody Hudson Copyright 2002-2004 www.Kate-Jody.com Jody Hudson: [email protected]