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Updated almost 8 years ago on . Most recent reply

User Stats

53
Posts
22
Votes
Jonathan White
  • Rental Property Investor
  • Anchorage Kenai Fairbanks Korea, AK
22
Votes |
53
Posts

Purchase price to motivated sellers (who acts first)

Jonathan White
  • Rental Property Investor
  • Anchorage Kenai Fairbanks Korea, AK
Posted

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.    

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