How to Make Money on the Backside of Your Offer

I am always trying to figure out how to get real estate at a cheaper price. The price you pay for a property is absolutly crucial. Knowing that, one of the things I do all the time is get a reduction on the price I offer. Here is what I do. This works almost everytime, come to think of it, it has NEVER failed me. I have even gotten it to work on foreclosures which are bought "as is". Although I have done this at least a dozen times, I will use the most recent one as an example. About 3 weeks ago I had an offer accepted on a bank owned property (foreclosure) for $56,000. The house is in great condition and will probably appraise for around $80,000. So I am getting it at a steal. Most people would probably be happy just to get it that cheap, but not me. I sent in my inspector to do a whole house inspection and we found out some wood needs to be replaced around the foundation. I had another contractor come in and give me an estimate to fix it. His estimate was a whopping $400. SO here is what I did. I called my real estate agent and asked her to revise my offer. I told her "I want to reduce my offer $2500." She said "you can't do that the estimate was only $400!" I told her to submit it anyway and guess what. They agreed! Yes, I bought a foreclosure "as is" and after the offer was accepted got them to reduce it another $2500! I do this almost every time. Why does this work? Because the seller has commited at this point and just wants the property to sell. Don't get greedy, just ask for a small amount. The worst thing that can happen is they say "no" and you can still buy the house at the accepted offer price. This is a great technique. Try it.