Suggestions on negotiating the seller down

[Diallo Jones]

Hello BP community,

I need advice on negotiating a seller down on his price. I hit a few key points while talking to him such as how much he plans on making after he sells, and he told me he put his own personal money into the project so I know it’s kind of emotional with him. I need to get him down $15k from were he’s currently at. Any advice on what I can say to him?

[Greg Dickerson]

Originally posted by @Diallo Jones:

Hello BP community,

I need advice on negotiating a seller down on his price. I hit a few key points while talking to him such as how much he plans on making after he sells, and he told me he put his own personal money into the project so I know it’s kind of emotional with him. I need to get him down $15k from were he’s currently at. Any advice on what I can say to him?

Sounds like you have already had some negotiations so at this point keep it unemotional by presenting your offer from the perspective of an appraiser. Show him the supporting comp data and renovation costs. Be honest and let the seller know your best price. Let the seller know it’s ok if the deal does not work. Give him the out first. If it works great if not move on to the next deal.