I submitted an offer yesterday for a potential sub2 for a supposid motivated seller and even had a t/b lined up for a L2P on the property. The seller was asking $169,000 for a $200,000 townhouse and declined on the sub2 offer… :banghead
Any other ideas to get me out of the :flush ?
No need to force a sub2 deal.
If that’s not going to solve their house problem(s),
the it is highly unlikely they’ll accept such an
offer.
What is the seller needing?
Debt relief? (apparently not, seeing they declined the sub2 offer.
But then again, all sellers need debt relief if they’re
carrying a mortgage)
Some moving money?
Cash?
Find out what would work for them, then
structure your offer accordingly.
For this sub2 deal do the owners have any equity in the home? That might be one reason why they did not take the offer. Also how well did you explain to them the benefits of a sub2 deal, and along with that did you answer any question/objections they might have had. I think sub2 are a great way to buy real estate but it takes a little more persuasion on the investor’s part. I would approach the deal with a couple different options for the sellers and guide them into thinking that the sub2 deal would be the best route for them. You should try to cut off any other avenues they might take. I hope this helps :biggrin