Updated almost 11 years ago on . Most recent reply
Accessing the value & making an offer
Hello Guys,
I'm a newbie wholesaler starting in Burlington County NJ. I sent out a few letters from a probate list and got a call back within 2 days. I set up an appointment to see the home and went on Friday. Zillo stated the ARV was 99k. Seller said she had it appraised a few months ago for 86k "but the appraiser was a friend and didn't write anything on paper". The property has roof damage and a few cosmetics issues. I'm not good at accessing the repair value, but another wholesaler said I should offer between 26 & 35k after I told him it was 1420 sq ft. I told the seller I would call a contractor to give me a repair estimate so I can give her an offer.
Please help!
Most Popular Reply
@Antoine Nelson If your offer doesn't make you cringe when you make it, it's not low enough. If your wholesaler friend is experienced, and he said you need to offer up to $35k, you really can't afford to offer your top price up front. That's now your negotiation starting point in the seller's mind.