i have found a nice investment property…
The property is to be purchased “as is” with no professional inspections. i think the proprty is a good investment at 279k, but it’s a no brainer at 250.
Last week I offered 240,000 (80% from bank 20% from seller) with inspections. He refused the offer and said: no seller financing and no inspections.
So, yesterday I offered $230,000 cash (from the bank, obv) as is, no inspections.
Today he tells me that he will not repsond to that offer as the property is worth much more, and to come back with an offer “closer to 279,000”
The building needs some minor cosmetic work, and is in good condition. It will cashflow at 280, but i don’t want to pay retail since it needs work and prlly won’t apraise over 265.
So, tomorrow I will offer 250k and hopefully get a counter. My question is: How do you handle these hardball negotiating sellers? Don’t you think he should have countered?
I know that I am not providing much detail, but details aside, how do you handle these negotiations with tough sellers?