For those of you that know, I’ve been looking to buy more real estate here in Los Angeles. I recently found something and made an offer…and this was what happened. Enjoy. Add me on Snapchat/Instagram: GPStephan
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Here’s the video summed up for anyone who doesn’t want to watch the whole thing…but at least hit that LIKE button 😉
I saw a property I really liked, and made an offer. They ended up getting several offers, and asked for a best and final. I made that offer at what the property was fundamentally worth, based on all the sold comparable and similar homes on the market. Unfortunately, other people were willing to over pay WAY more than what it was worth, and my offer was denied. However, later they came back to me when their higher offers fell through. I have a feeling the previous buyers regretted paying what they did, and felt it was best to back out.
Now that I’m back in the picture, I made another offer at exactly what I felt the home was worth, given the square footage, size, condition, and other sold properties. However, again - that offer was rejected, even though I felt it was a very good offer for what I was offering. I can’t get into too many details at this point, but I thought my offer should’ve gotten accepted 😉
Lesson here: If you know what a property is worth, don’t over pay. Stick to your price. It’s a logical decision to move forward or not, and if you feel something is worth what you’re paying, don’t pay more.
For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
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By Stock Chat

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27 thoughts on “Just made an offer to buy another property…this is what happened”
  1. Avataaar/Circle Created with python_avatars JavaMuko says:

    Wonder what happened to the property

  2. Avataaar/Circle Created with python_avatars David Roy says:

    Hi Graham, can you please make a video of how to become a landlord, such as what licenses are needed, etc…

  3. Avataaar/Circle Created with python_avatars Jamie Chang says:

    Oh, I wonder is that why some seller do not take the highest bids. This is so interesting.

  4. Avataaar/Circle Created with python_avatars Aatheus! says:

    I got my house by following that strategy of offering 5% over ask, then negotiating concessions. Also had inspection and funding contingencies.

  5. Avataaar/Circle Created with python_avatars Hernan Guerrero says:

    Did they accept the offer?

  6. Avataaar/Circle Created with python_avatars Alec Acosta says:

    I just submitted my offer of $4.50 more than you and I got a great home! Thanks Graham! 🙂

  7. Avataaar/Circle Created with python_avatars D Neuman says:

    Great but I feel good at this price

  8. Avataaar/Circle Created with python_avatars Pascal Lizaire says:

    Going through that same process and I needed this video more than I realized 😩

  9. Avataaar/Circle Created with python_avatars CalgaryRealtorEddyTadesse says:

    Good on you

  10. Avataaar/Circle Created with python_avatars C&C S. says:

    I like the "it's been hard, I was looking for a property for 3 months!"…And I'm here like… I've been looking for 6 years bro… The money I put aside for downpayment grow slower than the downpayment needed to buy a house so much the price is going up faster than my salary!!!
    And… Even a Pandemic is not helping getting those Real Estates down… :/

  11. Avataaar/Circle Created with python_avatars XoLeRick says:

    By the way, what you are mentioning is called Anchoring. It is a very popular selling tactic. Set a high price and then pretend you are giving a discount to create that kind of urgency to buy.

  12. Avataaar/Circle Created with python_avatars Ben Jen says:

    Could it be that the agent was lying.. there was no offers on the property…just messing with your mind… I experienced that many times.. they always call back with some lies.. so they can squeeze a little more out off a you. Maybe in America is different ,but in EU is a different game. I hope you get your property…

  13. Avataaar/Circle Created with python_avatars L. Guido says:

    Thank you for sharing your experience from a buyer’s perspective to others, please make more videos like this one,
    the exact same thing happened to me recently here in LA. Great video, thank you!

  14. Avataaar/Circle Created with python_avatars James Perkins says:

    Good for you. How can we do it. You brag about your credentials that we don't have. So how can we do it without your training? No desire to get real estate license btw.

  15. Avataaar/Circle Created with python_avatars Anu Mehta says:

    So, what happened? Did you get it in the end?

  16. Avataaar/Circle Created with python_avatars Michael says:

    Buy a Toyota Supra or Acura nsx probably nsx if your looking at Lamborghini

  17. Avataaar/Circle Created with python_avatars richi pichardo says:

    Stash app video when ?

  18. Avataaar/Circle Created with python_avatars RealVane says:

    Everytime i open Graham Stephan's vlog, i'm like: "What's up you guys!" 😂

  19. Avataaar/Circle Created with python_avatars Average Joe says:

    I think you were not afraid of the seller watching this, in fact I think you posted this video hoping the seller would watch it! 😀

  20. Avataaar/Circle Created with python_avatars Manuel says:

    I mean you could have always uploaded the video much later, if you didn't want the seller to see this when it mattered

  21. Avataaar/Circle Created with python_avatars Dylan Lichti says:

    Love the style of this video, I’ve been watching your content for a while now and this “vlogish” style is pretty epic. Thank you for the content, and hope you have a great day!

  22. Avataaar/Circle Created with python_avatars Chanel Radiance says:

    Hey Graham.
    Have you ever had any hunted house for sale.
    If so can ou make a video about it.

  23. Avataaar/Circle Created with python_avatars ProdigalS says:

    Great video! Allows me an inside of the actual process 👍👍👍👍👍 best of luck with that property

  24. Avataaar/Circle Created with python_avatars MPVC says:

    Btw the thing you are talking about when the offers are stupid high is call an anchoring effect. Guess economics class paid off..

  25. Avataaar/Circle Created with python_avatars Bruce Lee says:

    Graham this’s video is awesome! I’d love to see more videos about the processes of buying real estate and the strategies!!!!

  26. Avataaar/Circle Created with python_avatars Bashir Benserir says:

    Did he end up posting it in the end

  27. Avataaar/Circle Created with python_avatars ociriszues says:

    Na dont take the offer… you can squeeze him for a little more.

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