Etiquette on Offers on Overpriced Fixers
I see nothing wrong with using a buy & hold strategy. But I keep coming across fixers where the seller purchased it recently (within last 6 months), did no improvements at all, and is trying to sell it for significantly more. The market values are still closer to what the seller paid for it.
I submit an offer that is more in line with other fixers in the area, is it OK to present the prior sale of the same property as a comp? Or would that come across as hostile toward the seller? Am I justified in making a lower than normal offer?
If the seller had purchased at a lower price in 2017, I wouldn't think much about it, but some of them were 3-4 months ago. One of them paid $59k in July and listed it in October for $129k and just reduced to $109k. The pictures in both listings show the same work needed.
I see this happening more frequently than I would have expected
Thanks so much in advance!
Most Popular Reply
#1 All Forums Contributor
- Real Estate Consultant
- Summerlin, NV
- 66,571
- Votes |
- 45,150
- Posts
#1 All Forums Contributor
- Real Estate Consultant
- Summerlin, NV
Just offer what you think you can live with .. do not take sellers feelings into the equation .. especially if they are wholesaler flippers they wont care .. they have a number you have a number
- Jay Hinrichs
- Podcast Guest on Show #222
