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  1. #71
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    My parents own a lot of rental properties and from time to time someone asks to buy one of them. They usually say no but they are open to sell for the right price and the right time. Most of the offers were just too low as they came directly from those renting in the house.

    Be prepared that still might say no though because it was their 'dream' rental property for whatever reason - or they have other plans for it.

  2. #72
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    Ok the owner said he wants $575000. We offered our max of $550000.
    Owner said it wasn't worth selling for less cause he wouldn't of made much money on it.
    12 months ago he purchased for $450000 (which he was really lucky). This house is purely investment purposes.
    So I'm wondering how much tax etc he would of spent? I know he carpeted and painted the house.
    But seriously $125000 for 12 months?

    I'm so devastated cause it was our dream home. I haven't seen anything nearly as close to this one
    It's so emotional. Our next home I want to raise my kids and grand kids.

  3. #73
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    You could point out that by directly selling to you (not through an agent) he'll save the agent commission (not much, but might just convince him?)

  4. #74
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    Quote Originally Posted by onelasttime View Post
    Ok the owner said he wants $575000. We offered our max of $550000.
    Owner said it wasn't worth selling for less cause he wouldn't of made much money on it.
    12 months ago he purchased for $450000 (which he was really lucky). This house is purely investment purposes.
    So I'm wondering how much tax etc he would of spent? I know he carpeted and painted the house.
    But seriously $125000 for 12 months?

    I'm so devastated cause it was our dream home. I haven't seen anything nearly as close to this one
    It's so emotional. Our next home I want to raise my kids and grand kids.
    If it is your dream home, isn't it worth the extra $25k to you? Could you make a commitment to yourselves to pay that $25k off ASAP? If I felt how you did, that's what I would do it really isn't a massive difference - or try negotiating in $5k increments.

  5. #75
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    I only have the agent contact info. Should I ask the agent that? He probably would be happy to lose the commission.

    Yes I know $25k isn't that much but we are struggling to get to $550000. It's so frustrating cause its so close but yet so out of reach.

    Maybe if there was no commission? Argh what to do

  6. #76
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    I think I worked out roughly its cost them $35,000 in 12 months so say $490 max , they then would be up for tax on the $85 profit they made ( if sold for $575) but still yes they are in front

    Agents comm would be about $15,000 - ask the agent what they are charging him and if they will negotiate ? It is hard as some owners really don't need the money and as they don't really want to sell they may not negotiate , really look
    Into what else is around and as pp said if there is nothing then it may be worth it to you to pay the extra to live in it happily ever after

  7. #77
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    The other thing to do is to make sure you pass the message back that you $550,000 is your max and you are happy to leave that offer on the table, but you simply can't go higher. Then, the ball is in his court and you wait a bit longer. You want the house and it's not on the market so it's unlikely it will be sold to anyone else in the next month and maybe, just maybe he will have a rethink.

  8. #78
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    I was thinking today calling the agent to ask if they would do a private sale to avoid $15000 commission and sell for $555000?
    I'm wondering if the agent would pass this onto the agent or say no cause he wants his commission.

  9. #79
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    As most agents only get a very small base salary and rely on their commissions then I don't see why an agent would sacrifice their commission to keep you happy? What is in it for them?

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  11. #80
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    I guess it comes down to whether he feels he has brought about the sale for the vendor.

    It probably also depends very much on what his boss thinks about it.


 

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