4895 Steve Reynolds Blvd Norcross

So you can’t always believe a Seller when they say their house is in great shape…

I met with a seller today who wouldn’t stop talking about how great their house was, brand new roof, house was just painted…yadayada.  So on the outside I was like “Ok we’re looking good here.”  But Oh….boy! When I got inside the house completely different story.  Every room had work to be done.  Everything from needing new carpet or flooring, new paint (ENTIRE Interior), new kitchen, updated bathrooms, a tree that needed to be cut down in the backyard, new windows, and a ton of other things.  Believe it or not despite how bad this is that is actually a good thing from a Buyer’s perspective, because that gives us ground to negotiate down the sales price.  However not all sellers are in their right mind when selling their home…

I explained to the Seller, I am looking at about $15,000 in rehabbing this property.  Now keep in mind his house was only worth about $125,000 at FMV (Fair Market Value), and guess the lowest price he was willing to sell his house for? $118,000 folks.  So needless to say this was a house that I had to walk away from, because at that price I would be upside down.  I informed the seller maybe we can work a deal if he would agree to $100,000.

Sometimes Sellers need reality to hit them before they are ready to be sensible.  Although nothing happened I made sure to build strong rapport with the Seller, and let him know that I wanted a fair deal for both of us.  This way down the road when he is ready he will come back to me and we can work something out.

Until next time catch you guys later-Jeremy

Looks like a great house?

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