Seller Asking for way to much, how should I deal with it?

[Daniel Banks]

Hello BP members,

I was doing some prospecting and spoke with a lady who is interested in selling her house. After gathering all the property information I could see that she has owned the home for a very long time (20+ Years) and has a huge amount of equity. I asked her reasoning in selling her home and when she needed to sell. She said the home was in need of some repairs to the roof and was looking to sell within 30 days. Finally I asked her how much did she need for her property and ...wait for it... she said 610,000! Never mind that the property is located in Baltimore MD but after looking at the taxed assessed value of 227K I have absolutely no idea how she got to that valuation. This highest comparable sale was 380K.

Rather than dropping the lead I am looking for strategies in dealing with sellers who are not willing to sell at a number that makes sense. Is it worth it to follow up with type of lead or should I consider this a DEAD lead and move on? I have included a link to a comparable property on Zillow for reference.

https://www.zillow.com/homes/recently_sold/36559840_zpid/39.28452,-76.564461,39.282762,-76.567345_rect/18_zm/

Property Details:

3 bed 1 1/2 Bath

2,791 SF

1,402 Lot

Year Built 1920

Property Type : SFR

Tax Assessment - 227,000

[Chris Mason]

Originally posted by @Daniel Banks:

Hello BP members,

I was doing some prospecting and spoke with a lady who is interested in selling her house. After gathering all the property information I could see that she has owned the home for a very long time (20+ Years) and has a huge amount of equity. I asked her reasoning in selling her home and when she needed to sell. She said the home was in need of some repairs to the roof and was looking to sell within 30 days. Finally I asked her how much did she need for her property and ...wait for it... she said 610,000! Never mind that the property is located in Baltimore MD but after looking at the taxed assessed value of 227K I have absolutely no idea how she got to that valuation. This highest comparable sale was 380K.

Rather than dropping the lead I am looking for strategies in dealing with sellers who are not willing to sell at a number that makes sense. Is it worth it to follow up with type of lead or should I consider this a DEAD lead and move on? I have included a link to a comparable property on Zillow for reference.

https://www.zillow.com/homes/recently_sold/36559840_zpid/39.28452,-76.564461,39.282762,-76.567345_rect/18_zm/

Property Details:

3 bed 1 1/2 Bath

2,791 SF

1,402 Lot

Year Built 1920

Property Type : SFR

Tax Assessment - 227,000

 It's a bored old person who has found a fun (for her) way to deal with the "I want to buy your house!" yellow letters... up to you how you value your time, might be best to give it 1 or 2 more conversations and then move on dot com.