Looking for ways to get leverage on a seller?
BPs,
I'm looking a purchasing a rental house. Typical negoiations, seller thinks the property is worth much more than I think it is. We have come to an agreement on the price, but I want to push closing out because I really don't want the headache with his current tenents. Their lease is up next May. So here is my issue.
All of our negoiations have been through the realators. I DO NOT have a signed contract. Each time I think we are getting a contract there comes another request from the seller. Granted, this has been going on for about 3 weeks which is longer than I prefer.
I sort of feel helpless in that I want the property but don't feel like I have any leverage in the deal, besides walking, which I have done a few months back. I know this deal won't make or break me, so I'm trying to keep it in perspective.
Just wondering if there were techniques out there to gain a little leverage for someone to sign a contract?
Thanks in advance,
Andy