Making Offers Tips/Advice - whats your style?

Question

I have been calling home owners of distressed properties and I can get to the appointment, I am struggeling a bit on making offers, owner has one price in mind, lets say $500k, but property is really worth $300k and right away they shut it down, even after explaining, repair values and other costs associated it with it.

Want to see what other tips/advice or different ways people make offers to buy.

Dave Van Horn · Answer

@Isaac El I like Roy's advice. Many times, their number is just psychological and not practical.

I would also try to put in multiple offers.  Usually 4 or 5 at the most depending on their situation. 1.) Full price with them giving owner financing. 2.) A lower price  that but with them holding a seller 2nd. 3.) An even lower price with traditional financing 4.) The lowest price that's cash. (i.e. private or hard money)

Lastly, if it applies I would make a subject-to offer.

But usually it shouldn't be me just giving them a ton of offers...they should tell me their situation, and I should be able to give them an offer that fits.

Roy N. · Answer

@Isaac El

When we have a unmotivated - or not sufficiently motivated - vendor we will often table our offer as open ended (with no expiration).  If the vendor sells for the {initial} price they want, good for them.  If they do not, we will be happy to receive their call or e-mail several months down the road.

Isaac El · Answer

thank you so much on both of those, really smart and will try those as well.