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Updated over 5 years ago on . Most recent reply

User Stats

42
Posts
16
Votes
Cooper Marcus
  • Rental Property Investor
  • San Francisco, CA
16
Votes |
42
Posts

MFR seller fixated on too-high price - what else can I offer?

Cooper Marcus
  • Rental Property Investor
  • San Francisco, CA
Posted

I extended an LOI to a seller (via my agent and his agent) of a 6-unit MFR, and my LOI was rejected because I did not offer to pay the asking price (I offered about 6% under asking).

The asking price is too high given "conventional" deal terms and my underwriting criteria (which aren't crazy) - what sort of creative terms could I consider offering as I underwrite again at the full asking price and draft a new LOI?

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