When looking at a deal that is offering seller financing, is it better to offer the terms I want first? Or ask the seller what kind of terms they want and then counter with mine?
Thanks in advance.
When looking at a deal that offers seller financing, you are the man. If they are offering this then they are motivated sellers. You are not a motivated buyer unless you currently have no where to live. That means the ball is in your court. Take advantage of this position but be fair. If you are not fair you could blow a potentially good deal. Your objective is only to make the deal work for you at the best possible bargain for you. Have fun and good luck!
Thanks @George Hammilton! I appreciate the feedback.
The pleasure is mine and I wish you good luck with your deal. Would love to hear how that turns out for you.
@Blake Hufman Whenever the seller is offering financing, they certainly are motivated. A note of caution to do extensive due diligence prior to any commitments. The sellers' motivation may stem from a hidden property issue. Ask questions and find out his motivation.
If you're willing to pay his price - then it should be on your terms. But, it always comes down to what can be negotiated. Always just ask - you'll be surprised what you can get from just asking!
George has a good point - the upper hand - thus, leverage the sellers' motivation
Thanks @Griffin Fehrs !
The due diligence is definitely a huge priority. It seems like there has to be a catch. We'll see. I'll keep you guys posted. Thanks again.
Free eBook from BiggerPockets!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!