Re: Buyer/seller talking - Posted by Karl (Oh)
Posted by Karl (Oh) on May 29, 2006 at 23:57:10:
Are you concerned that motivated sellers who are desperate to dump their home for cash won’t sell to you if they think you’re going to turn around and make a profit? They don’t care, they just need you to help solve their problem.
Keep at it and you’ll earn a good reputation. You’ll be the guy who buys homes for quick cash. You’ll also be the guy who sells homes for a little bit down, and little bit every month. That’s the reputation you want, and you’ll want everyone to know.
Go back to your buyer and tell him you’ll give him a huge discount off the price of his home if you shows up tomorrow with cash. He won’t. Better yet, tell him you’ll buy his home back from him if he’s not happy with the financing you’ve provided. You’re not happy? Go ahead and move out, and I’ll give you back your money. You’re taking on a lot of risk by selling the home to him on payments, and its only right to be compensated, but if he’s not happy with the deal, he can walk away. That’ll shut him up.