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Updated almost 8 years ago,
- Rental Property Investor
- Anchorage Kenai Fairbanks Korea, AK
- 22
- Votes |
- 53
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Purchase price to motivated sellers (who acts first)
BP nation, I am new to BP so thanks for letting me be a part of such a great group. I have found an opportunity to buy a small cabin w/ cash in AK where I proposed buying a property from a family through a hand-written letter. After they replied and we corresponded via email several times, we have built a relationship and they are willing and motivated to sell. They asked me "what price I would offer". I am overseas due to military service so I can't sit down with them over coffee which I would prefer. Phone or electronic comms is the best I can do. I have read that guru's think the buyer/investor should never first make the offer. Let the owner tell you their thoughts then strategically negotiate off of that. I want to close this deal soon "strike while the iron is hot". Questions: Do I risk scaring them off by making my offer? or Do I wait for them to give me their thoughts which will likely cause them to do more research, look at more comps and possible give them a false hope of potential price. Or should I just tell them what I will pay and why? Any strategic thoughts on this is helpful.