Manny Khoshbin

“The third way you can incentivize the seller to accept your initial offer is by offering a sizable nonrefundable deposit. You can offer this after your short due diligence expires, or after you are certain your loan will be approved. Again, this indicates that you are serious about the property and that you fully intend to make the deal happen. A nonrefundable deposit is a layer of protection for the seller, and the fact that you are offering it up front demonstrates good faith on your part. This makes you a very attractive buyer.”
― Manny Khoshbin, Manny Khoshbin's Contrarian PlayBook

“Auctions are also to be avoided, both because you will be competing against a larger number of potential buyers and because you will be making decisions in an accelerated time frame, which makes it difficult to do your due diligence. When it’s a good time to buy there will be an abundance of discounted properties to be found, so you won’t need to rely on auctions.”
― Manny Khoshbin, Manny Khoshbin's Contrarian PlayBook