Is this a deal?

[Steph C.]

Hello,

I got a lead from one of my mailings for an inherited house, 3bed/1bath. The sellers (4 children of the owner) had the house on the market for a while and the listing just expired. They are looking for more than what the house is worth (current comp value approx $200k, asking $248k), but the house appears to be in very good condition. In having a discussion with the son, he would be willing to come down a bit (closer to $200k), but still more than we want to pay. We'd love to pay 65% of ARV, but I don't think they'll accept that. We aren't going to see the property (it's a bit far away) unless I know they would accept in a range that we'd be willing to pay. I believe the house is free and clear.

I've asked if they'd be willing to owner finance, but they are not. So, if the house is in as good condition as it looks in the listing photos, maybe we could rent the house or owner finance. If we owner finance it, how soon before we could sell the note? Is that a viable option?

Although the sellers seem motivated, I don't think price wise they are motivated enough. Any suggestions on possibly making this deal work? We really were hoping to rehab or wholesale the house, but neither seems like a good option here.

They are waiting to see if we are interested before they list with a new Agent.

Thanks,
Steph

[Jeffrey K.]

offer what you can afford dont try to make the deal work. When they say no, which they will, walk away and forget about it.