General Real Estate Investing
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal



Real Estate Classifieds
Reviews & Feedback
Updated over 2 years ago on . Most recent reply

Any Negotiation Levers Than I Can Pull Outside Of Price?
Good Morning! Could use some advice here. I'm a first time real estate investor negotiating on a turn-key property north of Dallas, TX through my agent and the sellers agent. The home is conservatively worth $270k. It went under contract 3 weeks ago (from a different buyer) in this price range and then the financing fell through. Unfortunately for the seller, they already have a new home under contract in Wisconsin and will be moving there in mid-November. Their home is empty and the movers are already booked. They re-listed the home in TX for $250k since they are now under a time crunch. I put in an offer at $220k and it got rejected b/c accepting this price would cause the seller to be upside down. They countered at $245k. Quite frankly it would be tough for me to bite this bullet b/c buying at $245k puts me at only $50 / mo. of cashflow.
Big business will be migrating to this city in the next 3-5 years that will be creating thousands of jobs. This home is priced aggressively in a fantastic neighborhood.
Has anyone faced a similar situation in the past? Any advice on how I can get creative and help the sellers without going up on price?