''Seller won't tell how much he has left on mortgage''

[Connelle Dewberry]

I've been eyeing a property for a long time, wasn't able to reach the owner until today. He just happen at the house as I rode by. He had already been approached by many other investors, but said he liked my approach because I didn't treat him as being destitude or broke needing to sell. Long story short, he was very receptive of me, gave me a tour of the property and everything I needed except how  much was left on the mortgage to pay. He said he thought that was personal and didn't feel comfortable giving me that information. I told him I would need know all the numbers to make him the best offer possible. What do 

you do, and how can you make an accurate offer on property without knowing? Thanks!

[Carlos Fernandez]

Of course he doesn't want to give that info. Why would he tip his hat and show you his cards?

In the future I would frame it in the context of what are his near term goals. Is he more into a quick sale / short escrow? Does he want to downsize? Live closer to the grandkids? Freely give your knowledge of the industry and the market. Give your honest perspective of the market, its strengths and weaknesses. You get him to see that you are a resource, and he'll cough up more info.

But if you approach it as a "Hey, why don't you give me all the tools in your arsenal so I can slay you!" ... you won't get very far with him.