Found potential first property - need help on how best to approach selelr

[Sarah Ali]

Hi everyone!

Through the help of many on here, I have made a lot of progress since joining about a year ago. I've finally found a property that could be a good fit for my primary residence- if I can get a good price on it. It will be my first home purchase. I may be able to STR a spare bedroom but that would be for later.

Background:

A fixer upper, but I do not know how much fixing is required.  I would have to have a walk through with a professional to give me an appropriate estimate.  House has been on the market for many months and no takers. So it must be something pretty big, right?

Question:

Should I approach the seller directly or go through a RE agent? If approaching the seller directly, how do you recommend I go about it? I was able to to skip trace his email, address, and phone number.  I personally feel it's very intrusive to call someone like this, but maybe it's considered acceptable? If I do contact him, what should I say?

Regarding price, do you have any suggestions on how I can get him to agree to a lower price? I am assuming here, but if it's been on the market so long, it's priced too high for it's condition.  So logically he should consider lowering the price, but we all know how illogical sellers can be.

Thank you in advance for your suggestions!

[Nathan Gesner]

Quote from @Sarah Ali:

The seller has a contract with the agent, which means they can't legally sell the property without compensating the agent. And it's wrong for you to attempt that. The agent works "for free" until the house sells, so taking them out of the deal is theft, and immoral.

"The house has been on the market for many months..." Home sales hit their lowest level in almost 30 years, so it's not unusual to see a property sitting on the market for many months. Did it sit for five months? 27 months? Is it fairly priced for the size, location, quality, and other factors? You don't provide enough data to know.

Every product is only worth what you are willing to pay for it. Analyze the property and determine what price you are willing to pay, then offer that amount. The seller can accept your offer, reject your offer, or counter back with what he thinks it is worth. You get the house for an acceptable price, or you look for something else. It's that easy.