OfflineHey everyone,
What's your feeling about the saying, "He who makes the first offer loses"? If you can get the seller to say a number first, that at least lets you know if there's some motivation. On the other hand, the seller might just need you to put a number out there to get his mental wheels turning. Thoughts?
Vincent
__________________
"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53
I believe in aggressive offers and have no problem making offers 1st. This is a manipulative technique that many people use, however, I suggest you opening the dialog and setting the stage yourself. For me this is a control issue. I don't like someone else driving my business plans.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
I agree with Jeff. You know what the numbers have to be in order for it to work so if the seller isn't realistic it won't work anyway. If they are motivated it will. The seller we are working with didn't give us a number just said to make an offer so that's what we did. The owner said the numbers work for him although nothing has been signed so take it for what it's worth.
Lea
Question I have with this is providing a # is what if the house is worth less than what they owe, does this entail a short sale required to proceed? Or is there another option - Help me understand this
Paul L
Critios
Paul Leis
Sacramento,CA
“What you commit yourself to determines what you are, more than anything that ever happened to you yesterday, or the day before.” —Dr. Anthony Campolo
“Somehow I can’t believe that there are any heights that can’t be scaled by a man who knows the secrets of making dreams come true. This special secret—curiosity, confidence, courage, and constancy, and the greatest of all is confidence. When you believe in a thing, believe in it all the way, implicitly and unquestionable.”
—Walt Disney
Whenever you are making offers and the seller is not willing to say what they want, I would recommend that you nudge them to throw something out there. But if they refuse, do not hesitate (if it is a good property and your very interested) to throw out a ridiculously low offer - to break the ice if nothing else, especially if it is not recieved well! Make light of a really low offer to get them to say what they are wanting first. Then see if you can make this happen. If not you can at least move to the next deal with peace of mind. I hope that this information helps!
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
OK, because, like I said, I've heard both sides of the point from qualified people. My thinking is, if I can get an idea from the seller as soon as I talk with them, then I don't have to go through finding comps and repair estimates and go to see the property, only to make an offer and find out that the seller doesn't want to do something. How do you avoid that? Thanks for all the input so far!
Vincent
"He who is mighty has done great things for me...He has...exalted those of humble estate; he has filled the hungry with good things..." Matt. 1:49-53