A Seller's Unreasonable Expectations

5 Replies

Just a shout out to see what everyone does when a seller has expectations that are just beyond the scope of reality.

I've been getting sellers that feel their early 20th century, termite infested, never-been-updated, lead painted, 1/1, falling down, and in a war zone "structure" (I really hate to call it a house) is somehow worth $100K.

How do you deal with sellers that just won't budge on their crazy expectations of value?

Please feel free to throw out some examples.

Stop wasting energy on those deals and move on. Keep it on the back burner. 

Find different deals and find sellers that have realistic expectations! Follow up and touch base with those sellers with crazy expectations from time to time to see if reality set in and you can work with them....

We see the same things when people come to us to sell their note. They want close to, if not par, and the majority of the time the fair market value of the property is not close to what they sold it for. We do the same as Rob & Logan, we pass for now and touch bases ever month or 2. When they don't find anyone who will pay their price, they might just realize they won't get what they want, and will have to accept what someone is willing to pay.

Originally posted by @David W.:

Just a shout out to see what everyone does when a seller has expectations that are just beyond the scope of reality.

I've been getting sellers that feel their early 20th century, termite infested, never-been-updated, lead painted, 1/1, falling down, and in a war zone "structure" (I really hate to call it a house) is somehow worth $100K.

How do you deal with sellers that just won't budge on their crazy expectations of value?

You don't. You just move on.

There is a wonderful crazy tale on Bp somewhere where a guy offered something like half what the woman wanted, and she balled him out on the phone. 2 weeks later she phoned him back up, and had obviously realized that her property wasn't worth as much, they negotiated, and he bought.

"I can pay your price in installments over 30 years, but my cash price is X"

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