Answers (6)
- lkajfh
- Contributions:6
Sometimes, it takes some time for sellers to come to reality on the state of the market and the current value of their homes. Many get too caught up in "what they have in to it" vs. the market value.
Your offer may be the 1st step in that reality check, and they may come back to you in the future. Two deals I worked on in the past year had the seller come back to us after an initial offer/counter offer was walked away from by the buyer and sellers.
Monitor the property, get an agent to set you up a custom search with email alerts for the property so you know immediately about any price drops. And after a month or two go back and casually let them know your still in the market but your price is the same and see what they say.
Your offer may be the 1st step in that reality check, and they may come back to you in the future. Two deals I worked on in the past year had the seller come back to us after an initial offer/counter offer was walked away from by the buyer and sellers.
Monitor the property, get an agent to set you up a custom search with email alerts for the property so you know immediately about any price drops. And after a month or two go back and casually let them know your still in the market but your price is the same and see what they say.
- Nina Harris, "NinaHarris"
- Contributions:387
You can submit your offer of $85,000 and leave it on the table for a specific period of time. In the meantime look at other properties in your price range that may spark your interest. Who knows....you may find a nicer home or the seller may come back to you in a few weeks accepting your offer. Good luck"
- user9709803
- Contributions:20
Thank you all for all the advice... its good to hear many different perspectives... I am going to post another question about another property, please take a look at it.... thanks again
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- Mack McCoy, "Mack McCoy"
- Contributions:2141
My advice on "handling" an un-motivated seller is to leave them alone and work on somebody who wants to play ball.
All the best,
All the best,
- Dan, "the_country_hick"
- Contributions:4827
When you have a seller who overpaid for the property and then says they will not lose money on it the time has come to look elsewhere.
Obviously this seller is not going to drop their price because they "feel" the house is worth what they owe on it and will not sell at a loss. In time they may drop their price but do not expect it to happen quickly.
Obviously this seller is not going to drop their price because they "feel" the house is worth what they owe on it and will not sell at a loss. In time they may drop their price but do not expect it to happen quickly.
- Keith Cook, "BuyerMax"
- Contributions:1873
The value of a home has absolutely nothing to do with what the owner paid or owes on the property. It does however have a huge impact on the sellers motivation and willingness to negotiate. You may need to wait for the sellers motivation to increase. If you plan on obtaining a mortgage on the property your lender will require a new real estate appraisal of value which should help ensure you do not over pay for the house.
Non Motivated Seller?
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