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Updated over 2 years ago on . Most recent reply

User Stats

108
Posts
49
Votes
Rob Chiang
  • Rental Property Investor
  • San Mateo, CA
49
Votes |
108
Posts

Got 2 offers 5 months ago, since then ZERO offers. Any Ideas?

Rob Chiang
  • Rental Property Investor
  • San Mateo, CA
Posted

Got an airbnb friendly or LTR Renovated 3plex 1 block from a beautiful santa cruz beach.  Had it listed for $2M, then got two offers at $1.8M (one was cash!) within the first few weeks.  We countered both and both walked away.  I do regret not taking the $1.8M offer straightaway now.  Here we are, 5 months later without any offers since then.  We lowered the price to $1.799M We are shocked at the shrinking size or hesitancy of the buyer pool.  Any ideas would be awesome.  Thanks,

Most Popular Reply

User Stats

903
Posts
1,126
Votes
Chris Levarek
  • Real Estate Syndicator
  • Phoenix, AZ
1,126
Votes |
903
Posts
Chris Levarek
  • Real Estate Syndicator
  • Phoenix, AZ
Replied

@Rob Chiang Offer seller-financing? Most are scared about interest rates, so let's say you have a 4% interest rate on your loan. Offer Seller Financing at 6%, with 10% down for example. This might entice someone to be attracted to that deal even at your number. Of course you will be working with your lender, but there are ways to make it work.

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