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Updated almost 10 years ago on . Most recent reply

User Stats

144
Posts
9
Votes
Everett Marshall
  • Bude, MS
9
Votes |
144
Posts

seller taking control

Everett Marshall
  • Bude, MS
Posted

I found a property with a duplex and a 1/1. Needs 20,000 in repairs and ARV is 93000. There is a renter in one side who is paying 600 a month. The owner agreed to sell for 52,000 and he would pay the back taxes. So i fax him my usual assignable contract. I usually do $20 earnest money he called and wants me to pay 200 in earnest money. Should I allow him to dictate how much earnest money I give?

Most Popular Reply

User Stats

172
Posts
73
Votes
Aaron Thivierge
  • Investor
  • Jacksonville, FL
73
Votes |
172
Posts
Aaron Thivierge
  • Investor
  • Jacksonville, FL
Replied
Originally posted by @Kyle Penland:

You're the buyer, you call the shots or move on.

What? 

George Bidault ( previous French prime minister) once said, "a good diplomatic agreement was one with which all parties were equally dissatisfied."

If all other variables are equal, and the numbers work, pay the $180 extra and move forward with this deal.  Are you truly contemplating not pursuing this deal because the seller wants to see you've got some skin in the game opposed to $20? 

What am I missing???

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