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Deb - A lowball offer will get the ball rolling - the WRONG way. When the lender does its valuation, triggered by the low-ball offer, the seller will be held to that for 60-180 days (depending on investor and type of loan). Who would want to be stuck with a value of, let's say $100,000, when the property might be worth $85,000 in 90 days? Plus, many MLS organizations require the seller to take their home off "active" status when there is a contract! So, not only does the seller set himself up with a forced value for maybe too long, he has to lose marketing time for the "real" buyer. As for "getting the ball rolling" re: saving time on a later offer? NOT! The seller will have to send all new financials in for a new review. Just don't waste your time.
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