Indianapolis, IN · Member since 2013 · 29 posts · 8 votes
Next week I’ll be meeting with an owner that I know will be selling their home this summer/fall. My expectation is the owner will want market value for the property. How do I get them to accept less? Please share some experiences that have been successful for you. I’m also in the Indianapolis area if that help. Thanks
First, you need to do a complete market analysis of the house and not go off of Zillow estimate. Odds are it is wrong. You are trying to solve a sellers problem. That is what you need to focus on. Find out what is their problem and you need to solve it. Bigger the problem the more likely they will sell the house discounted.
If they don't have an issue they will try to sell the house for market value. Probably just list the house with an agent.
Flipper/Rehabber · Montgomery, NY · Member since 2016 · 2k+ posts · 1k+ votes
7y
Offer as much as your willing to pay, explain to them why it is your max offer and give them incentives such as fast closing, cash buying with no appraisal or any other contingency and have them pay no closing/realtor costs. I got a house for a low price by being an honest cash buyer and making the sellers life easier.
Indianapolis, IN · Member since 2013 · 29 posts · 8 votes
7y
@Brian Pulaski thanks . Zillow has it valued at 158k. It’ll probably be a flip or wholesale depending on the price. It’ll be my first time if I get them to accept.
First, you need to do a complete market analysis of the house and not go off of Zillow estimate. Odds are it is wrong. You are trying to solve a sellers problem. That is what you need to focus on. Find out what is their problem and you need to solve it. Bigger the problem the more likely they will sell the house discounted.
If they don't have an issue they will try to sell the house for market value. Probably just list the house with an agent.
Investor · Carmel, IN · Member since 2014 · 332 posts · 245 votes
7y
For the Indianapolis marketing do not rely on Zillow estimates - they can be extremely inaccurate (+/- 30%) for a variety of reasons. If you rely on the Zillow number for your valuation, it is a very easy way to lose a lot of money. You need to obtain real (actual) sales comparables, and even with that, you need to do in-depth comparison as to how those comparables are similar/different to the property you are considering. Good luck.