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Updated about 8 years ago on . Most recent reply

User Stats

295
Posts
34
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Burt L.
  • Real Estate Investor
  • Steamboat, CO
34
Votes |
295
Posts

Owner Afraid of Taking My Better Offer Than Property Mgr Brought?

Burt L.
  • Real Estate Investor
  • Steamboat, CO
Posted

I have made an offer to an owner of a duplex that is 10K higher and has no real estate commissions involved. His property manager is also a realtor and brought an offer than will net him 25K less than my offer is. A buyer of mine who has bought 25 properties from me would like to purchase it, but the owner is afraid of taking an offer as his property manager controls access to the property and the owner lives out of state.

There is no listing agreement between the property manager and the owner, but he has just received one from the property manager and wanted to speak with me before signing that. The buyer the property manager has brought owns another duplex on the same street and the manager also manages property for that owner and would then continue to manage the same property and so would get a commission without interrupting the property management fees. I'm not sure if this gives off a poor odor or not, to others.

The owner says he doesn't know how he can accept my offer as he cant provide access without involving and upsetting his property manager, but he would like to net the 25K more from my offer.

How could I approach this, and gain access to the property for the walkthrough? The managers buyer hasn't been in the property either, yet. I've told the seller, that If I don't perform, the other buyer wont necessarily go away and he could still pursue that plan. My buyer has only declined to purchase one of the 26 properties I have had under contract and offered him.

It seems that the manager is effectively preventing the owner from getting a better price for his property. I just need to gain access for a walkthrough. Would you have any suggestions on how to approach the situation?

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