What questions do I ask of a motivated seller to put together a mutually beneficial deal? Read below and help, please.
Im looking for a compassionate way to acquire property and leave seller with dignity. I offered $298k. ARV is around $525. Repairs $85k. Holding costs around $20k. Costs to sell after repairs approx. $30k.
Seller has 6000+ sq. ft. residence. They are very motivated for financial reasons, but they believe they need more than I can offer. I have an accounting background so my instinct is to ask them to show me their finances, but then I'm reminded I'm not so good with the people skills. I can make a good first impression. Then they get to know me and it goes to hell.
@Luis Bermudez , do they need the cash in a lump sum, or would they be amenable to seller financing with a down payment large enough to get them through whatever storm they're weathering?
For example, if they need $50,000 for some expense, you can offer that as a down payment, then provide them a monthly income stream for the balance.
@BrooksRembert That's what I'm trying to find out. How do I broach this subject in a sensitive manner. I've been communicating through the agent. Progress has been slow except that I've been able to ascertain the sellers are in need of some help. Would a request for a phone help accelerate the progress? Should I trust nothing is being lost in translation?