I really cant give advice on this but I thought about it for a while and came up with my own opinion on it . so here goes
FSBO's can be handled in a variety of ways
Time on the market
Owners willing to sell at a lower rate
Desperation
If the property has been on the market for only a short time Negotiations are a "NOT" !
Owners who have just put the property on the market will be head strong Only believing they can get more if they hold out. Time is what they don't believe in. at this point
Desperation Is what we want to find out. If Its been on the market for lets say a year. Desperation might play a role at this point Do the owners live on the property. If not. 2 mortgage payments can bring down the sellers to become motivated.
I own a business that requires negotiations at all points of the game. I always wait to see if they are willing to put more on the table. If not then "oh well"
They have a goal and time can eat away at that goal If you hold out or do some dramatic deals ie Ask for Inspections, a fair market analysts Resale value or Appraisals. this can make them want to negotiate.
Its like buying a car in some ways there is a high point and a low point in every deal you just need to find the happy medium
Now the cons to this deal where they are not willing to deal and are asking for a higher price than what its worth could mean they are upside down.
I don't know it could mean a lot of things. I have people skills I know where and when not to approach them but when it comes to real estate. I am Just learning
__________________
When Life comes down to push and shove.. Its time for a 1 Ton truck.
- The Belt Group -
If they are trying to get more than the FMV, its their problem to sit there and try to sell it for a price no one is willing to pay yet.
My opinion is to offer a lower price than the FMV (so you can profit) and if they don't accept, then oh well. You aren't going to get every bid accepted.
But I am more than positive there are ways to negotiate it down, I just haven't learned them yet. I am anxious to see other replies.
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I really cant give advice on this but I thought about it for a while and came up with my own opinion on it . so here goes
FSBO's can be handled in a variety of ways
Time on the market
Owners willing to sell at a lower rate
Desperation
If the property has been on the market for only a short time Negotiations are a "NOT" !
Owners who have just put the property on the market will be head strong Only believing they can get more if they hold out. Time is what they don't believe in. at this point
Desperation Is what we want to find out. If Its been on the market for lets say a year. Desperation might play a role at this point Do the owners live on the property. If not. 2 mortgage payments can bring down the sellers to become motivated.
I own a business that requires negotiations at all points of the game. I always wait to see if they are willing to put more on the table. If not then "oh well"
They have a goal and time can eat away at that goal If you hold out or do some dramatic deals ie Ask for Inspections, a fair market analysts Resale value or Appraisals. this can make them want to negotiate.
Its like buying a car in some ways there is a high point and a low point in every deal you just need to find the happy medium
Now the cons to this deal where they are not willing to deal and are asking for a higher price than what its worth could mean they are upside down.
I don't know it could mean a lot of things. I have people skills I know where and when not to approach them but when it comes to real estate. I am Just learning
When Life comes down to push and shove.. Its time for a 1 Ton truck.
- The Belt Group -
If they are trying to get more than the FMV, its their problem to sit there and try to sell it for a price no one is willing to pay yet.
My opinion is to offer a lower price than the FMV (so you can profit) and if they don't accept, then oh well. You aren't going to get every bid accepted.
But I am more than positive there are ways to negotiate it down, I just haven't learned them yet. I am anxious to see other replies.
Dominic
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Move on! As Investors we only want motivated sellers. You can keep an eye on it though & follow up.
Jason S.
San Diego, CA.
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