How to convince a person to sell

Question

So I stumbled across a property that will be going to the sheriff's auction on the 2nd of August. The person in just under 10k in payments. He did not realize it was going to auction until I told him; at that point he stated that he wanted to sell the house. He looked on Zillow and came up with a magical number of 250k. Well obviously he is not going to get that; I think I might be able to squeeze no more than 100k out of a hard money lender but that would be pushing it. Is there some mesmerizing words I can throw at him other than "I am trying to help you save your credit and put cash in your pocket"? I would like to pay around 60-80k cash if at all possible.

Antoine V. · Answer

@Bill Gulley I appreciate your response; that is why I am here to learn the rights and wrongs of the business. That is why I joined BP to find people that are willing to guide me and show me the correct path. Keep the comments coming guys

Bill Gulley · Answer

Problem is, you might be a babbling fool if you can't justify your offer and explain that internet values are off the chart.

No magic words will work because every deal is different.

The goal is to identify the seller's problem and then solve that. It doesn't mean you have to steal the property, you can be fair, but it has to be the right property.

Just because an owner has a serious problem doesn't mean you have a deal, or just because any seller will talk to you. Educate them tactfully, gain  their confidence, show them with the reality of the market what they can expect, then make an offer that gives them a quicker solution.

It's been a long day for me, I'm not writing a book for you, it's clear you don't understand real estate and that you approach transactions as if you were selling a car or some widget. You really need to learn real estate, not marketing crap spun off by gurus, mentors or others trying to give you some magic formula, there isn't one! Good luck :)

Antoine V. · Answer

@Michael Mullins thanks for that I need all the advice I can get so I will be ready tomorrow. I would love to get there and sound like I know what I am not talking about and not a babbling fool.