Rental Property Investor · VA · Member since 2021 · 23 posts · 10 votes
All - not sure how to move forward with this situation.
So I have a seller who is interested in selling the house. The property is in a decent place. The market price goes about 500k. He is expecting 550k according to him... (The bigger (500 sq.ft bigger) unit sold for 550k which was completed remodeled). I offered 370k and envision 60k remodel without looking at the house. The seller wants easy transaction, no agent fee, and MLS pricing but doesn't want to see the house myself or repair needed. After I provided my more than MAX offer... he just hang off and texted saying I will not call you again...
Should i move forward with this guy and keep asking. It sounded like he just want an offer in my opinion and to compare with others. Now i am writing this, I felt i shouldn't follow up with him anymore. lol but I really want his two properties.
@Le Jia Don't be surprised if a seller finds a lowball offer insulting. In fact, be surprised if they don't.
Seller's don't care that you see this as a business deal and that you need to make a profit. What they care about is selling their property and not getting taken advantage of.
By your own admission, you offered him 65% of the current market value - and you think it needs $60K in renovation without even setting foot inside.
If someone made that offer on my home, I'd tell him to walk west till his hat floats.
@Le Jia Don't be surprised if a seller finds a lowball offer insulting. In fact, be surprised if they don't.
Seller's don't care that you see this as a business deal and that you need to make a profit. What they care about is selling their property and not getting taken advantage of.
By your own admission, you offered him 65% of the current market value - and you think it needs $60K in renovation without even setting foot inside.
If someone made that offer on my home, I'd tell him to walk west till his hat floats.
@Le Jia Don't be surprised if a seller finds a lowball offer insulting. In fact, be surprised if they don't.
Seller's don't care that you see this as a business deal and that you need to make a profit. What they care about is selling their property and not getting taken advantage of.
By your own admission, you offered him 65% of the current market value - and you think it needs $60K in renovation without even setting foot inside.
If someone made that offer on my home, I'd tell him to walk west till his hat floats.
Move on; not every seller is a good prospect. Go find another person who has more interest rather than trying to “make a deal happen” with this person.