Need Helping Making Offer!!
Hi,
I got a call from a seller this morning saying he has a property he needs to get rid of soon. He told me it is a duplex with 1 long term tenant and the other part is unoccupied. He says he has renovated everything, but needs out tdue to age and health ( Seller is 75). The house is assessed at $68,100. That is all I know at this point since I just spoke with him this morning.
When I asked what he was asking, he hestitated and said that it he will take anything reasonable: he just wants out!
So my question is: What do I offer him?
Thanks for any advice in advance. I realize there is not alot to go by here, but thats all I know at this point.
Chris
I think you know that you need to do some investigating before committing yourself to any sort of number. It really is impossible to give you any solid advice.
But try this:
FMV or assessed value (whichever is lower) -10 to 15% profit, -rehab cost, -closing costs = offer price
Good luck
[ Edited by alexlev on Date 05/24/2004 ]
Thanks for the advice...I will have to get more info. obviously before I make an offer. I just needed to know something in mind I could offer them.
Thanks again..
Chris G