Seller adamant about home price after appraisal comes back lower

[Zion Hurt]

Hey my name is Zion! This is more of a rant and wanted to see if anyone else is having the same problems. So I got to the last stages of this deal. My first property that I was going to house hack. With todays market I would not have cash flowed unfortunately but would reduce my monthly living expense greatly while building some equity and what not. But we got the appraisal back and it was 10k less than what the seller wanted. His asking price was 28k over similar comps in the past 90 days so already ridiculous to begin with. My team and I tried to go for the appraisal price which was 18k over the most expensive comp in the area. But no matter what he was fixated on that price and backed out no negotiations. I know it is typical to meet in the middle as well but the property is not worth anywhere near what he was asking for we just pleased him with our initial offer to get us through the front door. Even his sellers agent was working on our side because he was not going to get another deal this good. Plenty of houses in the area have been on the market for weeks dropping price every week. Due to my moving and job situation I am kicked back into the rat race temporarily, not enough time to go through the process of buying my primary residency at the moment. But to my point I am very sadden and loss of hope because all of this. Has anyone else been in the same boat? Really wanted to get this kick started as from many podcasts and investors after the first deal just snowballs from there.

[Charles Carillo]

@Zion Hurt

You just need to walk. It is difficult but if the numbers do not make sense, it will not work. For him to ask $28k over other comps from the beginning was probably the first sign that he is looking for a very high price without much motivation. To find a deal, you need to find a seller that has some level of motivation. This is a numbers game, you have to look at a number of properties to find one that works.