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How to Make an Offer on a Real Estate InvestmentOnce you've gotten all your financial information together and know what you can afford, you can start to figure out how to make an offer on a property. Here are some of the sources you can use to help you find a reasonable offer price. First, do your research using public records, prices paid, assessed value and other information that you can use to your advantage. Luckily, there are thousands of sites that offer this, including the individual county assessor websites, as well as sites like zillow. Also, you can go the old school way if you can't find what you are looking for online. Visit the tax assessor's office, the recorder's office (record room), and the tax/mortgage foreclosure area to help you find more information that can be useful in setting an offer price for your potential real estate purchase. Next, you should be creative, especially if you want to put down less money. There are lots of creative ways to make offers. You could try asking for seller financing, use land leases, offer more than they are asking but request cash back at closing. Find out what works in your area by asking around. But realize that most real estate agents are not open to these suggestions, so make sure you find one that is. Look for a realtor that also buys their own properties. They should know the best ways and biggest loopholes to help you get your money's worth on your purchases. Finally, don't get emotional. If you make an offer and the seller rejects. Don't let your emotions take over. Just walk away from buying the property. Don't ever get in the mindset that you "need" a property, as you may become irrational and end up paying too much. Keep your emotions in check by waiting 24 hours before responding to any offers or counteroffers.
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