Bankrupt Owner Reluctance to Sell

[Derek Magdziak]

How can we approach a bankrupt owner of a great commercial property to sell without being too pushy?

Here is bit of color to the situation - there is a property that my partners and I are interested in purchasing, sitting idle and not being used for anything.  The family that owns this property unfortunately had to close down their business last year due to COVID.  I have sent a hand-written letter to the owner about a month ago and plan to send a second letter next week, but I would imagine that since they went bankrupt, since they purchased this property in the early 1900's, and since they own a good chunk of real estate on the Main Street in this small town (that is not likely cash flowing enough to cover the expenses of said property), that they are still reluctant to sell and still can't believe the situation that they are in.  But of course, that's conjecture on my part.

My partners are especially eager to purchase this property and they want to find a way to accelerate the purchase or even lease option the property.  

Thus my question above - how could we approach the owner and family without being too pushy?

Thanks in advance.

[Jaron Walling]

@Derek Magdziak You can waste time digging and digging for motivation and never find any. Every investor has time invested into searching for deals. What's your time worth?

If the property owners are not responsive to letters, emails, or phone calls odds are they're ignoring you. I'd revisit this property in a couple months and see if anything changes but continue looking for other deals. If they contact you and sound interested in selling it's all hands on deck. That's the exciting part.