Strategies for making an offer to a private seller

[Craig Brouillette]

I get responses from my marketing efforts and I want to make sure I'm successfully converting as many of these prospects as possible to closed deals.  I don't wholesale, just negotiate to buy the deals myself, and if I've lost deals in the past I feel it's becuase my first offer might have been perceived too low (even though it's based on comps I show to the seller).

What strategies have worked for others when it comes to making offers and negotiating the price when you meet with homeoweners who are looking to sell (and this is for private sales not homes listed on the MLS)?

Thanks! 

[Micah Copeland]

@Craig Brouillette

It sounds like you are doing a good job already by showing and explaining comps. One strategy I heard that you could possible try is asking them to get in touch with a real estate agent to determine value so they don't think you are trying to pull a fast one.

For me.. I have had most of my success closing deals that needed a lot of repairs. It gives you a great argument to drive that price down as much as possible. The only thing you can do is find out what the sellers motivation is and use that as leverage. In a deal I just completed I realized after walking the property with the owner and chit chatting about it by asking a lot of open ended questions that the landlord hated the area and the type of tenants he was getting. I kept stating things such as, "I will evict them for you when I buy your home so you do not have to" "I will repair all these problems that your tenants caused so you don't have to"... 

No motivation = No sale.