1st meeting with a seller experience
Met with first seller today, lead came from bandit sign put up on 06/20/13. I got the basic information over phone bed,bath, asking price,title holders. The price was about 150,000, checked the tax assessor website and saw that the houses fair market value was more around 122,000. I figured maybe we could talk the price down and find a little a bit more reasonable number, so that some profit could actually be made. The house was move in ready, so I figured it could maybe be marketed to more of a landlord as a cash flow type of deal.
Looking at different the tax assessor website and websites like zillow and trulia that were also way below the 150,000, I knew it was unlikely that we would make a deal. However I wanted to meet with a seller for the first time to get a feel as to how the process goes. I got to the neighborhood about 40 minutes early and drove around to check out the primary property and any comps to get a feel to see what the area looked like.
We arrived at the meeting time and looked through out the house which did look good (got pics also), but not for the asking price. We sat down and spoke a little bit some to build rapport and also negotiated to see if that number was flexible, it wasnt. We ended the meeting on good terms and I told the seller that if she changes her mind give me a call and we try again.
I would like any feedback to see anything else I could do next time. I would also like to note that I'm not intending to meet with every seller, but I met with this one due to it being the first time and wanting expierience.
Any thoughts would be appreciated on this. I was also extremely nervous going, but feel as though I did a descent job.
Thanks
Ricky Lopez