You found a homeowner who’s thinking about selling. Now what?

Question

• Have a conversation. Ask why they’re selling, when they want to sell, what work the house needs, and what price they have in mind. Find out who else needs to agree.

• Listen to what matters. Do they want the highest price? A quick sale? To leave everything behind? Understand what they’re trying to accomplish.

• See whether there’s a fit. A cash offer might work. They might be open to payments over time. An agent or auctioneer could be a better option.

• Run your numbers. Look at the property, compare nearby sales, and account for repairs, closing costs, holding costs, and profit.

• Make the offer. Explain what you can do in plain language. Give them room to ask questions and decide.

• Put the agreement in writing.

Complete your due diligence and work with your closing attorney to verify title and prepare for closing.

• Stay in touch when it makes sense. Sometimes you can’t agree today, but the conversation isn’t over forever.

A motivated seller doesn’t automatically mean a good deal. It still has to work for both of you.

If you’re having trouble getting on the phone or talking through these conversations, send me a message. I’d love to help.

Judith Jonathan · Answer

Your last step is the one I see dropped most often.

When I run follow-up for the investors I support, every seller who says "not yet" gets a next-contact date and a short note on why they are selling and what their timeline is, so the next call picks up where the last one ended.

Chris's point about asking early who else has to agree belongs in that note too, because a spouse or a sibling on the title can change the timeline.

A seller who was not ready in the spring can be your easiest conversation in the fall, as long as somebody calls back.

James Jones · Answer

From the buyer's side of that conversation, here is what makes the next step easy. Bring the numbers early: address, asking price, beds and baths, square footage, what it rents for now or should rent for, and honest photos of the rough parts. My box in Memphis is single-family under $100K, 3BR or better, finished value $180K to $265K, and rent that clears the 1% rule — on a Section 8 3BR here that is $1,395 to $1,950. If a house fits, I can say yes fast. If it does not fit, a fast no saves everybody time. And I never put earnest money down, so do not judge a buyer by that check.

Diana Khan · Answer

@Travis Goodwin, I agree with you. Understanding what the seller needs before talking numbers can make a big difference. I'd also add that it's important to confirm who actually owns the property and has the authority to sell it. Sometimes the person you're speaking with isn't the only one who needs to approve the sale.

I'm a real estate attorney, broker, and investor based in Maryland, and I work with clients on property transactions, contracts, and title matters. I've seen how ownership issues can complicate a deal, especially when multiple owners, an LLC, or an estate are involved. That's why I always think it's worth looking into those details early.

Great points, @Travis Goodwin! I especially like your reminder that a deal should work for both sides. Happy to stay connected!

Chris Colton · Answer

Good post, Travis. This is the part I am still learning here in San Antonio. When I lead with price, people shut down. When I ask what they need and how soon they need it, the talk gets more honest. Some folks care more about a steady payment than one big check. Asking early who else has to agree has also helped me. A yes does not mean much if someone else still has to say yes too.

You found a homeowner who’s thinking about selling. Now what?

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