It seems as though some potential leads screen their calls concerning buyers, which is understandable given the volume of calls, and I want to know the best way to pierce this so that I'm talking with a seller and able to negotiate without losing anything in translation.
Right now I'm referring to a specific example where there is what appears to be an un-motivated friend who has been entrusted to sell a divorce-vacated home by some out of state owners. Our 30 second phone conversation when I called about the property was limited to her casually passing me a lock box code (without even asking my name). It is a FSBO flip in need of serious repair, and their list price is way above it's value. However, the "friend" says she won't even consider passing along offers that aren't close.
I'm confident I could talk hard numbers with a seller and show them contractor bids and comparable sales that might maybe make them realize they are way off base, but I'm not confident that this unmotivated "friend" would do a good job of articulating this, or even gain me an audience... Ideas?
Maybe look on the county assessor's website to get the owners name. Their address will be on there, too. Send em a letter or postcard or try to call them directly. Remember, time softens these hard positions. Send the letter off and get back to them in a month or two. Hard-line gatekeeper friends or realtors aren't worth my time I have found. Let 'em contact you if you can. They are the ones with a dilapidated house and divorce to deal with. Good luck @Christopher Morin !
Yep just looked it up... there was a sale less than 3 weeks ago to FR****** TITLE & GUARANTY INC for 70k ... but the neighbors say it has been vacant for at least 5 months... Signs in the yard are for 99k.
Hmmm.... I think this "friend" may be full of baloney.
If it already sold for 70k 3 weeks ago then this is a reseller and not the original divorced owners.
If your value you would buy at is at around the 70k you just need to pass on this property. The new owner is not going to entertain your offer. They just want someone to pay 90k to 99k and make a 20k plus spread.
I don't know for sure because I am not looking at it but it is what it sounds like to me.
I think you are right @Joel Owens .
So here's a follow-up... I had a contractor come out and he estimated repairs in the 75-80k range. ARV would be approx. 175k, which mean offer price would be... (175 - 80) x 70% = $66,500. And since the most recent owner purchased for 70k, this one is a no-go.
Really good advice here, both nailed it. Smart decision on your part to pass. I too run into middle men when working with investors, i simply by-pass and go straight to the owners door step with my intentions. Sooo many scams out there.
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