Seller won't budge.. Ideas?

[Storm Grimwood]

Hey guys,

I have a seller who won't budge on the price. At the price he wants, the numbers won't work for me. Was wondering if you had any tips to bring him down to a reasonable price that'll work for both of us?

Thanks

Storm

[Larry Turowski]

@Storm Grimwood You don't have a motivated seller.  There are plenty of seller, not many motivated.  Those are the ones you want to find.  That said, if you are reasonably close there are a few things you can try.

1. Owner financing.  There are two things that make a deal.  Price and terms.  If you could finance 100% right off the bat I'm sure there are a lot of homes you'd buy, even if the price wasn't great.  You can tell the seller that you'll pay what they want if they'll owner finance for three years (or one year or 20 years).  Sometimes people are stuck on price and flexible on terms.  You could even ask them to finance at 0%.

2. Find a pressure point.  I once convinced someone to sell at a better by explaining that if they held out until the fall they might get even less or have to wait until next spring to get their price.  Maybe they have another opportunity that they are going to miss out on if they don't sell their house quickly.

3. Tell them you'll give their price if they make certain repairs.

4. Walk.  Sometimes sellers will come back to you.  Don't be needy for a deal.

That's about it.  These things will work once in awhile, which is great.  But be prepared for them not to work at all.  Like I said, it doesn't sound like your seller is motivated.