Semi-Motivated Seller -- 1/2 Million Dollar Home

[Joshua Dees]

How do you convince a seller that their home is overpriced?

I've been on the phone with a lady who is out of state. She is also an Agent. She had posted an ad on for a home for rent, so I figured I'd give her a call and see if she's interested in selling. 

Right off the bat, she seemed surprised by my call. She began to talk about how her husband wants to be done with it. They have listed it, starting in 2013 at $770,000. A year and a half later, dropped the price 50k.  (720)

8 months later dropped the price another 20k (700), waited 6 months, then took it off the market.

Picked up where they left off a year and a half later (700) -- Waited 6 months, took it off the market. 

2 months later, raised the price 30k, and put it back on the market at 730k.

Took it back off market in February of this year.

I've seen the pictures. Its a beautiful  5 bedroom, 5 bath, corner lot, huge yard, almost like having land.  Close to Lake Lavon. Gorgeous Master-Planned Neighborhood

However, I am very familiar with Collin County taxes, and how they love to go UP. Last year the bill was 13k, I cant imgine it going down anytime soon.

Upon closer insection, I've found that the property has virtually no storage, or built-ins

small rooms for such a large home

awkward kitchen with  kind of a dated color scheme (green marble tile on top of wood counters, yikes!)

My daydream is to wholesale this property, the woman said she wants to get the house appraised, then go with something close to that.

last years tax values were 

Improvement	568787
Land	105210

also, if she cant sell it ( I have a strong feeling that the main reason is because its over-priced) then that means I have to get it cheap enough to be able to maybe do some light remodel in the kitchen, then turn it over for a profit...

Thoughts?