Help!!! How do I make a multiple price option offer?

Question

What's up awesome BP crew?  OK I finally found an inside deal.  I am an electrician and one of my customers just mentioned the family wants to sell the old family house which is held in the family trust.  How do I write an offer to give them 3 choices to pick from?

Ex. 1. All Cash  2. Owner carry   3. ?       Etc.

I have heard about doing this on the podcasts but have never seen the details.

Does anyone have a letter I can copy?  Any advice?

Steve Hall · Answer

@Roderick Martin I often start with a low price offer with terms that are more favorable to the seller. (e.g. all cash, quick close, 20% down, no inspection, etc.)

Then when they counter with a higher price, I raise my price to meet them half way, but I change the terms so they are more favorable to what I want. (maybe finance contingency, 45-60 day close, inspections, 5% down, seller pays closing costs, whatever...)

Of course you could always submit 3 written offers and say choose one. I just don't like showing my hand.

Let us know how it goes...

Matthew Paul · Answer

well if a family wants to sell , sounds like more than 1 person . They probably dont want to hold a note . Just make cash offer

Roderick Martin · Answer

Got it,  Thank you so much Steve and Frank.  That is exactly what I will do.  I will reply with what happens.

Frank Wong · Answer

I would not give them 3 options.  You don't want to over complicate things.  If you can offer cash and a quick close that's the way to go.  You are offering speed and convenience for a lower price.  You need to find out the market value before making the offer.  You want to know as much as you can prior to making an offer. Then wait for their reply and do what @Steve Hall said.

Help!!! How do I make a multiple price option offer?

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