Lets play a game: Would you buy?
Hi Everyone,
I'm currently under contract for a property that will be flipped, but it is in the inspection period. The potential profit is modest, but it's a quick job. It should be back on the market in 3-4 weeks. I passed by the property today and I was happy with everything that I saw... until I met the next door neighbor. Let's just say he spent about a good 15 plus minutes bad mouthing the property (claims were baseless) and suggesting ways that I could get the seller to decrease the price.
This worries me. Clearly, if he was this comfortable expressing ALL of his negative opinions now, I would imagine he would be just as comfortable doing so when I place the home back on the market in a month. I'm worried that this will scare off potential buyers who are not as educated on homes as I am. Pair this with the fact that there is only a modest profit to be had, and it has me reconsidering purchasing the property. It's not as if I can drop the price so low that buyers may simply disregard his lies. I wouldn't make any money....
What would you do in this situation? I'm considering speaking to him in a respectful manner before purchasing the property to see if we can come to a mutual understanding that he can't continue this behavior when I place the property back on the market. Otherwise, I'm out of ideas? I may have to pass on the property as the profit margins are not high enough to deal with a neighbor who attempts to sabotage deals.
Any advice????
Thanks in advance!!