Yesterday I received an estimate for waterproofing the basement on my first flip project. I'll need the seller to make concessions-either fix the issue or reduce the price so that I can fix the issue. My question is how should I approach the seller. Should I call and make concession over the phone or via email or both? He is an out of town investor looking to unload a property. We usually have communicated via phone, text, and several times in person at the property. Below is the draft of the email I intend to send for records. However, I wonder if I should also call. Thanks for your time!
LETTER TO SELLER
I have attached the estimate for fixing the water flooding issue in the basement. As we discussed, this impacts and exceeds my projected budget, however I still want to move forward with the deal. How do you think we can we make this happen to meet both of our needs? I’m thinking we can move forward if either:
- You are able to fix the issue prior to closing; or
- Reduce the purchase price to 51k to cover the cost of the job ($6,000).
I look forward to hearing from you. Take care.