During the phone conversation with sellers, I instantly discover they are not flexable. I continue to gather info and informed them I will followup with a possible offer. Now how do I inform the seller in a professional manner, same as I spoke with them professionally that there is no deal? Any suggestions will be helpful.
Let them have silence. Eventually they’ll either call you back to try to work out a deal, or they will simply go away. If you really want the house (and have a buyer for it), you can call or email them back in about 3 weeks to see if they are willing to go forward with your offer. If they are still stuck on a high price, move on. There is no need to tell them anything unless you have a contract.
I assume that prior to making an offer on the house you have taken the time to view the tax records for what ever county that the house is in to make sure that they have enough equity room in order to work out a deal. If not, simply do an online search for the tax assessors website for the county that the house is in and find out how much they bought it for and when. Also verify the amount of the mortgage vs the purchase price.
If the house was purchased more than 10 years ago there probably is some equity room. verify this by going to a free site like realtor.com to see what houses are selling for within the area.
Good luck
Omar,
Thanks for your suggestions, very helpful. I really would like to get back with the seller as good business ethics for not buying their propety. I hope in this way in the future when they are ready to sell, they will think of me and call. All my past careers involves customer service so this makes me as an ex-militaryman, you something for so long you become condition :bobble. Others suggestions you laid out very helpful, I will execute them and see if there was a deal even if they were not motivated. I’m looking forward to more suggestions.
I had a recent situation where the Seller is not flexible. In my situation, my assignee backed out b/c the Seller took to long to clear up the title.
Anyway, as the RE market has gone down, so has the price that investors are willing to pay for the house. I offered seller financing options which they turned down.
My main thing is to maintain a good rapport with them. Try to find out their motivation/ what they are really looking for.
If they want to sell at top $ but do not want Seller financing, I try to find them a Realtor.
One thing I’ve learned from someone: “People’s situations tend to change every 60 - 90 days!” So I check back periodically to see if they are still interested in selling.