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Updated about 2 years ago on . Most recent reply
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Negotiate terms with a broker? 12-plex
How feasible is it negotiate seller financing through the seller's broker? The property in question is a multifamily with 12 units.
I would prefer to build a strong rapport and personal/business relationship with the owner himself, which could potentially lead to favorable terms through our own negotiations down the line... but my first thought is that a broker would just laugh at me if I brought up seller financing, especially with my favored terms.
From what I can gather, the owner of the property is a CEO first, investor second. His time is bound to be worth a lot to him. Should I track down the owner and build that relationship first, or should I move on to look for someone who is a more prolific investor and will understand my situation and buy into my WHY?
I don't want to go straight to the broker looking to transact... I would prefer to build that relationship with no strings attached, and eventually bring up my interest in the 12-plex (which would be an absolute dream for me to own, btw).
Any and all input is appreciated. Thanks in advance!
Most Popular Reply
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As mentioned, the agent has a fiduciary duty to present the offer. Seller financing is a great option in many cases and maybe very attractive for the owner. Trying to circumvent the agent is always a bad idea. One the seller hired an agent for a reason. Two agents are often the boots in the ground who know about future deals and properties. What you should be doing is trying to forge a relationship with the agent that is mutually beneficial.
- Jim Wellington
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