Dealing with Clueluss FSBO Sellers

[Loren Whitney]

I'm in the process of working on a FSBO deal locally and the seller needs LOTS of hand holding. I've already made an offer but continue to receive hesitation in all communications from the seller.

The seller is in way over their head from a mechanics and number crunching standpoint and want desperately to walk away with every possible penny. My offer is very fair and just barely below market value. The seller sees my offer figure but has no idea how to calculate the other closing costs or even compare other offers.

Aside from telling the seller to find someone who can represent them in the process, what have others done? 

Can I help explain the associated closing costs to give the seller a better idea of what they'll expect to net? It wouldn't be hard to mock-up a sample settlement statement with rough figures. I've already spoken with the title/closing agent I use locally and know what most of the costs are in advance.

Thanks for sharing your experiences.

[Joe Villeneuve]

Your seller may be "over their heads" based on your set of goals, but they are not over their heads based on theirs.  The secret to negotiation isn't to get the seller to agree with you, it's to be able to satisfy the seller's needs.  You can describe the problem as being in the seller's lap, but until you address what the seller wants, at a level they understand, your "problem" will never go away.

What I'm saying is this.  Don't try to educate your seller on your level...negotiate on their's...no matter where that level is.