120K Cash Offer Vs List It For 155K...Seller Says "Give Me 120K"

[John Thedford]

Not long ago in one of my posts I stated how I like to work with clients. I told this owner I could get them around 150K-155K for their house or would buy it outright for 120K. It needs some minor rehab but I could probably flip it fast>>> for 145-150K. If I want to put in around 6K it would probably bring in the 160K range. Seller sent back a signed contract today for my 120K cash offer. What did I do right...and why did he choose the lower amount?
1. I was 100% up front and honest (I believe this is the only way to treat people).
2. I didn't put any pressure on the seller. I made the offer weeks ago via a contract.
3. I gave the seller options: fast fast sale..quick cash....or more money to wait.

Sometimes it isn't "just about the money". I have found that making offers, giving people "space", and respecting their time to make a decision is important. I would have been very happy to help this seller either way...with listing the property or an outright purchase.