As I said at the end of my post yesterday, I was going to call up Caller #1 and make an offer. Having never done this before I was really unsure how to go about doing it, but after some deep thoughts I came up with a good strategy.
First I wanted to sound like I was trying to get him the best price possible. I did this by apologizing for taking a few days to get back to him, but i was running some different scenarios to come up with the best solution for both of us. He said “oh no problem”.
Second, I wanted to get him to say a price first. I took the path of “What do you need in order to sell the house?” He balked and said “I don’t really need anything” (remember he’s not really that motivated so this is not a surprise). I was going to leave it alone and come back to that, but he continued and mentioned that he had gotten a previous offer on the house from a rehabber for $175k that he turned down. Ok, now I’m getting somewhere.
Third, Prepared him for my lower offer (I wasn’t going to pay 175k for it). I started to explain that the buyers I have would want to expand the house to a 4/2 (from a 2/1) and there would be a need to expand the septic and what ever else I could think of at that moment.
Fourth, made the offer. Now at this point I know he isn’t going to accept my (safe) offer of 115k or anything below 175k so I told him I wouldn’t be able to offer him as much as his first offer and only could do 155k (I did not want to insult him at this point just in case he held on to the property through the winter and had gotten more motivated. right? wrong?). He turned me down quickly.
Bonus information. At this point he mentioned that if he got an offer for $185k he’d sign right now. I could not do that but told him if things change over the winter give me a call. He seemed cool with that idea. He was a Nice guy and I hope he can get what he “needs”.
All in all it was pretty easy to make this guy an offer and I was surprised he came out and told me what the other guy offered. For the most part I just let him talk and this information, even though he sounded reluctant to give me, just came out of his mouth. Great advice given to me by reading Bill Guerra’s material.
That’s it for that one. I’m going to send him a card thanking him for his time (should I put a gift card to Dunkin donuts in it?). I’ve also got an update on Caller #2 but I’ll save that for next week when I get more information.
Have a good weekend everyone!
PS – I missed a call from Jon Zorrer while I was talking with me JOB boss and when I called him back around lunch I left a message saying “Don’t worry about taking your time to call me back“. haha whooops! I corrected myself to what I meant to say “Don’t worry about not being able to call me back until now.” Hope he doesn’t take that the wrong way. If you read this Jon, I’m sorry.
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