Am I asking too much?

6 Replies

My Business partner and I have a house under contract right now. The ARV is around $125,000 and were asking $88,000 it's a 4Br 2Ba Tri-Level home in a desirable area. After marketing to our Buyer's list we are finding that our buyers are saying that the house is in too good condition? Is this a result of not having enough people on our buyer's list or am I asking too much for the property? Any advice would be helpful. Thanks in advance

If the "Problem" with the house is that it is in too good of shape why don't you try selling it to retail buyers/homeowners for close to the ARV?

If a property is in really good shape it is hard for investors to add value to resale. If your ARV is right (which is what I would question) basically they would incur 2 sets of closing costs to get a minimal profit.

If the numbers are right it is a nice deal for someone that wants to keep it as a home.  It might be a good rental at that discount if the other numbers look good.

Medium rre logo web rgb w motoShaun Reilly MBA, Reilly Real Estate, LLC | [email protected] | 1‑800‑774‑0737 | http://www.MassHomeSale.com | MA Agent # 9517670 | Podcast Guest on Show #43

We don't have any experience wholesaling to retail buyer's Would the Banks be OK with paying someone who doesn't own the property?

Shaun is totally correct. Your Buyers are accustomed to buying at such a level, as to allow Value Add. Nothing wrong with that. This property just requires different buyers.

If it is truly that nice, I would just list it MLS.

We don't have any experience wholesaling to retail buyer's Would the Banks be OK with paying someone who doesn't own the property?

Hi Anthony,

I agree with Joseph, it sounds like your buyers would be different and I would connect with a real estate agent to list the property on the MLS. As far as the banks and trying to wholesale the property to a person with a Realtor, I'm not exactly sure about the laws in your state but I would just contact a Realtor and ask them or you can just use Transactional Funding or Private Money to get over the issue with the bank.

Try posting in Craigslist ad........for any buyers interest in that property.

Thank you guys for the advice. I will let you know how it goes.