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Updated almost 3 years ago on . Most recent reply

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9
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8
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Debra Gross
8
Votes |
9
Posts

Need Advice on Price Change of Property

Debra Gross
Posted

I am working with a realator who presented with me with an off market property. 

4 Plex, Class C neighborhood, being renovated, with rents of 3200.00/month post renovation. I haven't seen any pictures of the renovation, have seen old pictures.

Initially, I am told it was 240,000. I wasn't interested so just opted out. Then the realtor sends me a message saying he posted the wrong amount and the seller actually wanted 215,000. I look again and then I place a full price offer.

Then I get message saying the seller countered at 220,000. He did not say that there were other offers made. He said the owner states that all windows have been updated or refurbished and there is only one water meter for the entire 4-plex as to why he wants more money. 

I am new to investing, so I was little surprised that I had made a full price offer and then was countered for more.

Thoughts? Just seems odd to me... Walk or continue with purchase.

Thanks in advance!

Most Popular Reply

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6
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5
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Steven Kim
  • Real Estate Agent
  • Metro Atlanta
5
Votes |
6
Posts
Steven Kim
  • Real Estate Agent
  • Metro Atlanta
Replied

I agree with Bruce. Sometimes emotions get in the way. If you think it is a good deal at $220,000, then accept it. I sometimes have to hold my breath and do things even though I know I am being played because not buying it now will be much more painful 3 years from now.

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