Got a SELLER, don't quite know motivation level - Posted by Jim IL

Posted by DanM(OR) on February 20, 1999 at 17:48:57:


I am with David for the most part. I would add that you should make her several offers. 1) All cash, but discounted, 2) Maybe L/O or something elses creative, 3) Let your mind roll.

Let her choose which one she wants. She is human after all, and we all like choices. Before making any offers I would talk to her and find out what her needs are.

Best of success to you! See you in Dallas,


Got a SELLER, don’t quite know motivation level - Posted by Jim IL

Posted by Jim IL on February 20, 1999 at 02:29:41:

Alrighty, here is the situation, and as always, I came here first, before even making any moves, (wrong or right).
My best friend calls tonight and says, “Good news Jim, my mom wants to sell her house, and it is paid off”.
Okay, that is good news, but for who?
He then informed me that she wants to “cash out, and not rent it or anything”. (apparently he HAS listened to my REI speak a bit).
Mom, has apparently looked at the neighbors recent sales, and decided her home must sell for “at least as much”, which to me means retail.
I know I’d love to buy her home, but need creative ways to go about it. I do not want to approach this woman and have her convinced that I’m trying to steal it from her.
she is retired and does not want “the hassles of landlording, or income”. Do I dare approach her and offer a cash deal at say 80%? The home is in perfect condition, and needs nothing, not even paint.
What would be a good way to approach this “friends mom” without offending her, and see just how willing she is to deal.
I know what she wants, and that is a condo or townhome closer to her son (my friend). What she needs I’ll determine when I talk to her.
Tommorrow I plan on checking out my friends area for possible townhomes and condos, that I can deal and sell to her.
I know this is vague, but it is the middle of the night, and ideas are welcomed before I approach her.
Sure would be nice to “tie this one up” before Dallas.
Thanks again for any ideas on a basic info gathering approach for this woman.
I already know that I’ll probably call her and meet face to face tommorrow and listen to her. That is the most important part, right?

Re: Got a SELLER, don’t quite know motivation level - Posted by David Alexander

Posted by David Alexander on February 20, 1999 at 11:11:11:


if she wants full price but, doesn’t need cash that opens a lot of doors because she hasn’t spent the money in her mind yet. How making an offer where you give a substantial Down and the rest in a year or two.
Or half now, half later. There are a ton of possibilities. You would need to provide more detail,
like how much does she want, comps etc. Also, are your a buy/sell type, or the buy/hold type, what’s your exit? post more info.

David Alexander