The best deals can be found by acting quick but with caution. Here are a couple of my latest ongoing adventures with offers......

In the first case, there was a property with a bunch of crazy 'conditions' on making an offer. One of these was that you needed to give a deposit of 10% of your price with your offer. In this case the vendors 'subject to' was the golden egg. Very few people can act quick and give a 10% deposit.
The result of this is that the vendors have accepted the offer, at 18% below the ask price, which was already low. It just happened to be the only offer. It still has to be approved by the court as this was a privately financed deal and the original 'financers' having foreclosed on the purchaser. The house had been squatted in and the renters wouldn't easily let the realtors show the house. On the fourth try, we got in . Perseverance pays. The uglier the situation, the better the potential for a bigger win.

In the second case, a bungalow listed at 15% below market value in a great neighbourhood. The catch here is that there were no interior pics and the realtor could not get in to view the property. In this case, as a purchaser, I added a 'subject to viewing' and got an accepted offer at about 10% below ask. Noone wanted to make an offer on a home without a viewing. I have an accepted offer at about 25% below the current market value. The house has been a rental and the vendor lives out of town as has been unavailable. If the house is a dud inside, I can move on. If not, I will have a big win. Very little risk for a great reward.
The Lesson is that you do not have to go into a house to have an accepeted offer with 'subject to' conditions still on it, that only you can remove.

Try to dig a little deeper next time, and with a little caution, yo can have some great rewards.

Well done!
Another example of how people let fear stop them from acting, when a simple "subject to" effectively solved the problem by mitigating your risk.

Good work!

(Please note that Trevis put down a larger deposit with the offer with "subject to" inspection clauses. Purchasing a home sight unseen for a 15% under market premium would be very risky.)

SweetZone said:

Purchasing a home sight unseen for a 15% under market premium would be very risky.)

Click to expand...

That's the point - everyone thinks that, which is why his was the only offer. A simple condition like: "subject to viewing satisfactory to the buyer" solves that issue. He makes the offer in the blind; it is accepted; he views the property; if he likes it, he proceeds; and if he doesn't like it, he cancels with no penalty. No risk with proper wording of the condition.