Call back failed wholesale deal???

[Michael Previtera]

Please understand that I have moved on to looking for other deals and I am not active perusing a dead end. However....

I have a seller that wants to sell their house but it's in horrible condition. I ran all my numbers and gave him my MAO. He pleasantly declined, stating that he could get far more if he listed it. I said that's fine and we went our separate ways.

I'm not going to increase my MAO but I seriously don't think his house will sell.

So my questions are:

1. Should I keep in touch with the seller in case his house doesn’t sell and he realizes that I gave him a fair offer?

2. If I do keep in touch, how often should I check in?

Thanks in advance,

[Michael Higgins]

Your MAO is your MAO, and that is final. Don't ever offer more then the numbers allow.

Search the average days on market in your area and after that period has passed contact him to see if he would reconsider your offer. If he is still being stubborn, contact him again- either every two weeks or every month following this initial contact, depending on your level of comfort. 

one of three things will happen in this time period:

1). Somebody will make him a better offer in which case you lose nothing because you have no money at stake.

2). he will take his home off the market in which case you also have lost nothing

3). He will fold and accept your offer in which case You win!

Remember, this is a numbers game, you need to contact many people many times

You may get a deal and you may not. Remember the worst he can say is no. You miss 100 percent of the shots that you don't take. 

If you have any more questions or concerns feel free to connect with me.

[Bill B.]

If you’re close you can probably pay his asking. If you’re far part, it doesn’t matter if it’s not selling at his inflated price as he can lower it 10-20% and find a new pool of buyers. It really depends how far apart you two are. 

[Jacob Sampson]

There is no downside to staying in touch.  You might schedule an automated email that simply lets him know you are still interested for your original offer.  Schedule or send it every 3 - 6 months.