Seller wants Offer on an Inheritance Property via Email

[Michelle Joiner]

Hello Bigger Pocket Family,

Please Help & Thanks in advance for your feedback and suggestions!

I stumbled upon a distressed property and sent the famous Yellow Letter to the owner of the Trust asking to be contacted via phone.  Well, the owner is computer savvy and sent me a message via Facebook asking me to "Make an Offer".

I am ecstatic that the owner reached out to me. My dilemma is I do not want to be the first to mention a number...as the old adage goes "the first person to mention a number is probably gonna regret it? This would be my very first wholesale deal and I want to get this property under contract

My questions are 1)  How do I address the owner in a sensitive manner since this is an inheritance property? 2) What questions should I ask via email prior to making an offer? Since I have only seen the exterior and it looks good; however, I have not seen the interior so I do not know what to expect. The property was built in the late sixties probably needs some updating.  I think perhaps, I should estimate for All repairs to be on the safe side contingent upon an inspection.

My email to the owner would go something like this...

Hello,

Thanks for responding to my request to purchase the home in .... that's been in your family for quite sometime.  I  have a couple of questions prior to submitting an offer.

I would welcome the opportunity to speak with you briefly, if that's okay with you. Can you please give me a call today. I may be reached at (561 ... I look forward to hearing from you. 

[Kyle B.]

@Michelle Joiner, no need to over think your response. I would suggest being brief and to the point. Let them know that you will need to inspect the inside of the property before making an offer. If they don't let you do this, then they really are not a motivated seller. 

In terms of making the first offer, I don't see this as a big deal. A lot of the times they insist you make the first offer. I usual preface it by saying I'm basing it on my repairs estimates and a profit margin for myself then provide them the offer (essentially letting them know I'm not trying to low ball, simply a numbers game). I don't need to get them at their lowest price. I just need to purchase it at a price that will give me my desired rate of return, if they want higher than that, I simply walk away from the deal. 

Also, I would suggest not patronizing them about the deceased or that it has been in their family... they know you are trying to make money and they want to sell it as well.

Hope this helps.

Kyle