Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$39.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

18
Posts
8
Votes
Will B.
  • Rental Property Investor
  • New York, NY
8
Votes |
18
Posts

Conditions to make it easier for the seller

Will B.
  • Rental Property Investor
  • New York, NY
Posted

I'm buying a property directly from the owner.  We are negotiating the price with no brokers, which I love.   This older gentleman is financially "set" and does not need the money.  I'm buying the apartment cash but I'm short 10 to 15K.    I want to present ideas to him so that my offer looks better.   So far I have the following:

1 – I will take the apartment “as is”. No need for him to do any repairs or cleanups. He can also leave any furniture behind and we will clean up.

2 – Flexibility to close/move in on date at his convenience.

What other suggestions should I make to make my offer better?

User Stats

1,715
Posts
1,237
Votes
Rick Albert#1 House Hacking Contributor
  • Real Estate Agent
  • Los Angeles, CA
1,237
Votes |
1,715
Posts
Rick Albert#1 House Hacking Contributor
  • Real Estate Agent
  • Los Angeles, CA
Replied

There are so many things that it just depends. Maybe these questions can help get you where you want to be:

What is going to make the process so smooth that he can't resist? 

What are any pain points that he has that you can help with? 

At the end of the day, no one really cares about the price, they care about the net. What can you do to increase the dollar amount in his pocket? For example a quick close to lower his carrying costs, paying his closing fees, etc.

User Stats

1,511
Posts
757
Votes
Mohammed Rahman
Agent
  • Real Estate Broker
  • New York, NY
757
Votes |
1,511
Posts
Mohammed Rahman
Agent
  • Real Estate Broker
  • New York, NY
Replied

Hey @Will B. - talk to him and figure out what's important to him. 

Is it the final offer price? Or does he need some flexibility with closing timeline (like you mentioned). 

There's a few other things to think about too: 

1 - Possible owner financing if he wants to still get a stream of income into retirement at an attractive rate compared to the rest of the market (win/win scenario, you don't need to come up with as much cash, and he makes a little $ on the %) 

2 - Consider a post possession if he needs some time to move out but needs the cash up front for whatever reason 

3 - Leave all the furniture/junk in the property and you'll handle clean up etc. 

Many other random ideas come up, but the general gist of all of it is to highlight whatever is a priority to HIM and provide him that value. 

BiggerPockets logo
BiggerPockets
|
Sponsored
Find an investor-friendly agent in your market TODAY Get matched with our network of trusted, local, investor friendly agents in under 2 minutes