FSBO Deal, Seller Not motivated, did I do this offer right?
FSBO Deal, Seller Not motivated, did I do this offer right?
Based on what I've learned about recognizing a deal and understanding the numbers, even-though the seller was not interested or motivated to sell, I saw it as a good practice instead. Did I negotiate or calculate the numbers right?
Octavia
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FSBO
Irving, Tx.
Single Family Home
4bdr. 3bath,
sqft. 2200
No H.O.A
Free & Clear (100% equity)
Seller: No Repairs
My personal thought: huh!, yeah right
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(( NUMBERS ))
Ask: $198,900
ARV: $264,900k (6 months, sold comps, 1) click here
$198,900 divide by $264,900 = 0.75% (ARV)
$264,900 x.70% - $10krpr - $10kpft = $165,430 (MAO)
$165,430 divide by $264,900 = 0.62% (ARV)
*** Knowing a buyer / rehabber has many other costs that need to be considered, I was told to not worry about those, just only my profit and the repairs needed. I still consider them though, I just didn't add them in the calculation. ***
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(( TEXT CONVERSATION ))
Me: Why selling?
Seller: Moved to a new home
I Offered: $150k, as is, all cash
Seller: No
Me: You selling full price?
Seller: Yes
Me: Will you do Owner Financing?
Seller: Not in a hurry to sell, I have plenty of other decent offers
Me: Ok, thank you for you're time
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Did i do anything wrong?, thanks for you're help guys