Help on negotiating

[Jerryll Noorden]

Hi everyone.

I am dealing with a situation here.

I made an offer, the owner likes the offer.

As the owners are a brother and a sister, he (the one I am dealing with, brother) wants to run it by sister.

It is taking weeks already but sister is dragging her feet. Finally after 3 weeks of waiting he says, he likes the offer but sister is a bit hesitant. She wants about 15K more.

The way it came across, is that she isn't sure , much like she has no idea how it works, but ays "the house across the street sold for XX (15 K more).

I really do not want to go up on my offer. Any pointers how to handle this?

Fact is you can't just compare a house that way, "house  over there sould for 15 K more". Even if the houses are similar. No 2 houses are the same.

What can I say, how do you pitch it, what can I do to convince them this is a good number to sell it at?

Thank you.

[Jerryll Noorden]

Good day Charles,

Hope you and your family are well.

I have included the contract with this package and a prepaid envelope to send it back to my office at our expense. I have an assistant then immediately schedule the necessary steps to get an inspector scheduled as soon as possible.

As for the other house on your street. It was listed with an agent. The reason it sold at a slightly higher price is because the agent put his fees on the number.

Keep in mind we offer cash, and there are no fees or commissions you have to deal with. The number we agreed on is the number you will receive in cash. You cannot really compare two transactions based solely on the end number it was sold at. This is why we have our agents to do comps and have them give us a fair market value on all the houses we purchase. Of course a market value alone doesn’t determine if a profit can be made. If the market value on a house is 100K and the house needs 101K in repairs, a profit simply cannot be made. So please understand we cannot simply make offers because another house was sold at an XX price. That is why we have our offer algorithms that give us our maximum allowable offer we can make.

Also although the house sold was not remodeled nor updated to modern standards, it was in move in condition. Buyers can get financing from the bank more easily for such properties.

We really do have to move forward Charles as we cannot keep our funds tied up for so long. Of course we understand this is a family issue and you need time to think about it. We will work with you to give you as much time as we can give you. As we discussed, Tuesday is a good timeframe.

I am leaving the country tomorrow. Best way to reach me after Sunday is by email at lllllll . Also I have an internet phone number 88888. However, this number works only when I have internet on my phone, and thus only when I am in a Wi-Fi hotspot.