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Updated about 7 years ago on . Most recent reply
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Help with counter offer
Hi all,
We are working on securing a flip. Seller countered our offer and I'm trying to find ways to be creative with my counter to them since there is not much room in the price. Here are some details
1. List price =$249,900
2. Rehab cost = $50-$60,000
3. Holding costs = $12,000 assuming 180 day holding period
4. Sales commission = 6% on 325k arv (conservative arv)
5. Profit = 20k
My first offer was $213k with inspection and financing contingencies. 14 days for inspection and 45 to close. They countered at $231k.
I'm thinking of making my final counter at 221k and 30 day closing. Lender has 30 day turn around time.
Anything else I can do to sweeten the deal for sellers?
Thank you!
Max