Seller Won't Lower His Price On Rehab Hosue Any Lower
I am looking at a rehab house, and the seller won't lower his price on the rehab hosue anymore (anymore than the 10K he dropped). I need about 3K more off the price to make it worth my while. The house does need work. How can I present the offer to convince him to knock off 3K more?
Break it out on paper for him to justify your offer first.
That is only part of it, because the owner could really care less what you are personally going to do so you have to then appeal to his needs.
A fast closing, no contingencies, things like that will motivate him to take your offer just like any other transaction.
If the seller won't budge on price try terms. For example, if you are using hard money and your loan costs approximate $3k, ask the seller to carry the financing for 6 months, no interest and you pay his full price. Same result for you and seller gets what they want. You rehab and sell before 6 months and payoff the original seller.