All Forum Posts by: Jae Min

Hi Brendan, 

Wow, thank you for your specific insight. Real Estate Investing is an amazing, exhilarating journey. My SO and I discussed this further once we all cooled down regarding the $$ we’d leave in the deal, haha. So we are all on the same page and spoke through basically what you’ve replied with. It’s great to hear insight on experts!! Thank you again, Brendan. Yes, let’s connect! 

Ashley

Hi all,

We are currently under contract and realized the original purchase price is way too over. Let's say PP: $60k but after all inspections (termites, need for lots of TLC) and the appraisal, it makes more sense for us to offer $45k. The seller is a FSBO and trying to cut all costs and maximize his profit. I was wondering if it's worth keeping an additional $3-4K in the deal to close. We would already have $$ in the deal from using a hard money lender, paying for our own attorney, origination fees, etc.

Would it be worth it to keep some $$ in the deal to meet the seller at a better point or terminate the contract? I don't find it smart to lose out on the long term benefits and the relationships we've built thus far. However, bc my SO is the one with the $$, he says no deal if he can't accept what the FMV is. I disagree. Please help me explain to him my vision, haha.

Thanks for your input!

Jae