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Updated over 5 years ago on . Most recent reply

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21
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Tarik Sapp
  • Flipper/Rehabber
  • Columbus, OH
3
Votes |
21
Posts

How to pitch an offer to get your deal under contract !!

Tarik Sapp
  • Flipper/Rehabber
  • Columbus, OH
Posted

I walked through this guys house for repairs, he’s motivated to sell, he’s moving out of state, I told him I’ll get back with him after I crunch numbers...

Can someone please help on the best pitch to start negotiating with the seller? Do i just throw out a number or ... say something like “ After reviewing our numbers we came up with and repairs cost we can offer you ...”

Most Popular Reply

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611
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1,089
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Tom Shallcross
Pro Member
  • Rental Property Investor
  • Chicago
1,089
Votes |
611
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Tom Shallcross
Pro Member
  • Rental Property Investor
  • Chicago
Replied

@Tarik Sapp - You can't have the mindset that this is a "pitch." The seller has specific wants out of this transaction and your goal is to understand those wants and how you can structure a deal that accomplishes them while also fulfilling your criteria.  Leverage an empathetic framework towards his needs and never say "no."  Look for ways to say well I can't do that but I maybe we can do XX.

It might be a little late now, but while you're going through the walk-through always ask what number he's looking for to see if you're in the same ballpark (some guys then follow that up with, "ok, and what's the lowest number you will be willing to accept" to have him negotiate against his own number).  

Once you know this number, then yes, based on what we're going to put into the property and what the market is baring, we can offer XXXX.  If you're still off, Chris Voss gave many great negotiating tactics in a past podcast.  You should never pressure him and always let him know the ball is in his court.  If this option doesn't work, here are the alternatives and their pros/cons.     

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