Updated about 8 years ago on . Most recent reply
What to offer on very cheap property?
Hi guys, quick question. I'm looking at a property here in Indianapolis for buy and hold, it's a SFH FSBO that has been on the market for a while, 3 months ago was listed at $14,000 and last week the price was dropped to $9000. It is in need of a full rehab and its not the best location. After running some numbers I'd really like to pay around $6500-7000 for it, since closing costs seem to be around $1000-1200. It seems to me that they are motivated because they dropped the price $5000. Basically I'm just wondering if offering about 25% below asking price is an insult or not in this situation. Thanks in advance!
Most Popular Reply
Explain that you are serious. Ask what the best can do price is? Do not shoot crab about condition etc I assume it is already factored in. If I was selling I will hang up.