All Forum Posts by: Lindsey Bengue

@Account Closed Than you guys, I have more info info now that might help.

The property is a SFH. The market value based on the comps is 591,624. Zestimate($637,000-$756,000)Initially I offered him 625k all cash he was not offended by the offer but wanted more.He argued that if invested 100K more on the property it it could be worth 850K(why hasn't he ...I'm not too sure). The comps are as follows(sold in the last 2 weeks):

1) 549k

2)580K

3)530K

4)678K

The avg price per sqft (based on comps) was $216. The property details: 12,739 sqft. Which leaves $591,624 as the most ideal offer. I've talked this over with my partners and the suggestion was to offer $650K with 20% down(130,000), or 15% down (97,500). I will be sending him comps as well but could this be owner finance situation or do you guys think this $650k offer would probably turn him off.What "all cash offer" could I have leverage with? The neighborhood is a HOT neighborhood. 

Is this helpful?

What suggestions do you guys have if a REI gets a contract with the homeowner for 20% the market price? The house does not need any repairs or updates, its pretty much ready to go. It is not listed on the mls, Its worth about 950000 but he would consider a 850,000. I will be looking at the property Tomorrow and want to know what to be prepared for and what things to tackle when renegotiating my deal to a better price. Should I partner with a realtor on this one?

What do you guys think? Thank you Bigger Pockets for a good source of real estate education!!