Motivated seller...so I thought

[Krystal Richardson]

I put out bandit signs on Friday and surprisingly received a call on Sunday morning. I was super nervous, and didn't know what to expect or say. When I called the seller back, though I had a script, I let conversation take its course. I made sure I got all of my questions answered, but I avoided reading the script word for word. When I asked the seller to tell me about his property. When answering that question it answered about 90% of the questions on my script. He seemed very very motivated. Being new I didn't know what to expect when going to meet him. After meeting he informed us that he already spoke to another investor and the investor said he didn't have enough equity in the place and he was looking for us to tell him something different. The neighborhood is a growing neighborhood, but the inside of his home was trashed and he has 2 mortgages and because of that, we wouldn't have been able to wholesale at the price his mortgage totaled; or even rehab and flip the spread was too thin. I asked him about mortgage balance on the phone, but he wasn't sure, I told him to have it available when we met up. It wasn't a total waste of my time; I learned so much in that experience. Being new to this, I don't mind going to appointments, because they are all learning opportunities. I did ask him if he had any other offers on the property, he told me no. When we got there he did say an investor offered him this and that and he couldn't accept it, so he wanted to see what what else he could get. He said he WANTS all cash that is the ONLY option, if he can't get cash, he will call the bank to come get his keys. What else can I do in this situation? Should I just let that one go and move on? It seems that he is motivated, but not really motivated. He just want cash for a property with low equity. He said he didn't want to list with an agent. I am at a loss! 

[Stan Hill]

Wish him good luck. Sounds like some good in the trenches learning to me.