Sellers paid me 16k to buy their house

2 Replies

So the most fun I have ever had in real estate came just last fall.  I am a Broker and I was looking to buy another rental property.  I got the property under-contract and did my inspections only to find "major" problems.  The problems were really minor but I was not in love with the property so I wanted to back out.

I had the property under contract for 90k, and I told the sellers I wanted 15k in price reduction to take care of the "issues"  They came back with 13k, which I said sure.

The best part of the deal was that I already had a note lined for 100% of the purchase price, so I used the 13k as a rebate at closing.  When you add my brokers commission it was almost 16k.

Thats right, I purchased a house and was paid 16k to do it.  Not a bad day. 

That's awesome and that's why we love RE.  Some people think these sorts of things can't happen but if you look hard enough, write enough offers and just keep working it, they are out there.

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