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Updated over 9 years ago on . Most recent reply

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26
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Mecia R.
  • Real Estate Investor
  • Alexandria, VA
1
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26
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Milwaukee Northside Property- needs momentum

Mecia R.
  • Real Estate Investor
  • Alexandria, VA
Posted

I have a Milwaukee Northside property that I was hoping to wholesale but the seller wants market price.  I would still like to help him sell it as it is a family member.  I've posted it online, contacted realtors for buyers, and local investment groups but no offers after about 2.5 weeks.  Anything else I can do to get it sold?? 

By the way, the owner would prefer not to have a 'for sale' sign out front to keep intruders away...

Thoughts?

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Marcus Auerbach
#1 Starting Out Contributor
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
6,451
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4,486
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Marcus Auerbach
#1 Starting Out Contributor
  • Investor and Real Estate Agent
  • Milwaukee - Mequon, WI
Replied

I have to agree with @Darren Budahn - it seems to be the problem with most FSBO that the seller does not want to face (market) reality. They feel insulted by a Realtor who suggests a fair market price and think that they are being taken for a ride and have to pay comission on top of it. The they decide to sell it on their own. I can imagine that your seller has spent quite a bit of money on updates and feels like he should get his money back when selling. Thats quite understandable but the reality is that even with a nice home you have to be within 5% of comps. And like @Dawn Anastasi pointed out the fact that it's a tiny house does not help either.  The best you can do for him is probably to print a few good comps both sold and for sale (1270 sft for 50k, 1548 sft for 41k etc) ) and go walk them and hope that he starts to understand.   

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