Owners who overvalue their property
Anyone have a strategy for dealing with FSBO's who want more than what the market will bear?
A property is owned free and clear but needs a lot of help. ( 65k + cost of money, selling cost and holding costs. My calculations put the ARV at 200K tops but owner thinks 250K+ :roll:
She didn't take my offer but I based my offer on FMV not an inflated idea.
Is is effective to make an unrealisticly high offer based on the owners precieved value and make it contingent on comps - 3% or something of that nature so as to give the owner a reality check. Or am I barking up the wrong tree.
Thanks