Off-Market No Price
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Off-Market No Price (by Johnny B. [MA]) Jan 13, 2022 12:02 PM
       Off-Market No Price (by Ken [NY]) Jan 13, 2022 12:21 PM
       Off-Market No Price (by Richard [MI]) Jan 13, 2022 12:30 PM
       Off-Market No Price (by Allym [NJ]) Jan 13, 2022 12:50 PM
       Off-Market No Price (by Deanna [TX]) Jan 13, 2022 1:09 PM
       Off-Market No Price (by Deanna [TX]) Jan 13, 2022 1:11 PM
       Off-Market No Price (by 6x6 [TN]) Jan 13, 2022 3:18 PM
       Off-Market No Price (by myob [GA]) Jan 13, 2022 3:32 PM
       Off-Market No Price (by Dave [MO]) Jan 13, 2022 4:05 PM
       Off-Market No Price (by NE [PA]) Jan 13, 2022 4:14 PM
       Off-Market No Price (by NE [PA]) Jan 13, 2022 4:16 PM
       Off-Market No Price (by myob [GA]) Jan 13, 2022 4:37 PM
       Off-Market No Price (by Ken [NY]) Jan 13, 2022 5:38 PM
       Off-Market No Price (by NE [PA]) Jan 13, 2022 5:40 PM
       Off-Market No Price (by Plenty [MO]) Jan 13, 2022 10:45 PM
       Off-Market No Price (by Johnny B. [MA]) Jan 14, 2022 5:40 AM
       Off-Market No Price (by S i d [MO]) Jan 14, 2022 11:19 AM
       Off-Market No Price (by Ray-N-Pa [PA]) Jan 14, 2022 3:20 PM
       Off-Market No Price (by Chris [CT]) Jan 17, 2022 8:38 AM

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Off-Market No Price (by Johnny B. [MA]) Posted on: Jan 13, 2022 12:02 PM
Message:

What is your strategy when viewing an off market property and the seller wonít name a price? --73.186.xxx.xxx




Off-Market No Price (by Ken [NY]) Posted on: Jan 13, 2022 12:21 PM
Message:

I generally refuse to even go look at a house if i am not given a price.i will consider going if they have a reason to be motivated like unpaid taxes and about to be foreclosed.I then look up on the county clerks website to see if there is a mortgage and estimate how much is owed,is there judgments and call the tax authority to find out how much is owed in back taxes.By the time i do all that it is usually more than i am willing to pay and save myself the trip --72.231.xxx.xxx




Off-Market No Price (by Richard [MI]) Posted on: Jan 13, 2022 12:30 PM
Message:

Ah, the old whoever mentions a price first loses game.

If you have done your analysis of the place, you know how much you are willing to pay.

Just say "instead of playing the game of who says a number first loses, let me say this-- I will give you $$$ and you have 60 seconds to accept or not. There are other places I'm looking at and I'll be buying one of them in the next day or two. If you want to sell for $$$ say so now or I will be done with yours and talk to the next one. I'm not going to play games."

And mean it.

If they don't accept your offer right there, leave. Just say at that point "if you change your mind, call me".

Then look for another. It's a numbers game and there is always another place. --75.7.xx.xx




Off-Market No Price (by Allym [NJ]) Posted on: Jan 13, 2022 12:50 PM
Message:

Is it for sale? No? Then go away. --108.24.xx.xx




Off-Market No Price (by Deanna [TX]) Posted on: Jan 13, 2022 1:09 PM
Message:

If the seller won't name a price, then they're not motivated to sell, so I need to go fishing elsewhere.

Even when the seller does name a price, there's no guarantee that the deal will go through, or go through in a timely manner. It took me over a year to get all the heirs on board for selling their mom's house after her new husband passed away-- he had a life estate it. Three of the heirs were perfectly fine with it, but the fourth heir with his little 10% interest in it wasn't motivated, because all he had was a 10% interest. We agreed on the sale prior to Thanksgiving 2020. We finally closed on the sale in early January, 2022. And I've promised to not take possession until after Valentine's Day, to give them even more time to clear out more of their treasures... ;)

I have a different building that we were interested in. Two adjacent storefronts on Main Street. Both needed significant roof work-- about $30k worth of roof on one, and $16k worth of work on the other. The guy wanted to sell both together, but ultimately agreed to sell just the one side. He also put in a clause about "if the deal isn't concluded within 3 months, it's null and void." And the moment I saw that, I knew he had no intention of going through with it, because that's not a clause you put in with a cash buyer who's clearly motivated. The clock started ticking before Thanksgiving; the clock will run out at the end of January. We promised that he could have until January 1st and beyond to move his stuff out of it; we just wanted to get the deal closed so we could get roof work started. I visited him a little before Christmas to touch base with him. Oh, yes, he's totally going to go through with it, but just having trouble getting his stuff moved... I gave him a phone number for people who make stuff move at a good price, but I doubt he's called it. We'll run the clock out, and then move on with life, because he can keep his leaky roof if he prefers it that way. ;)

Sometimes it works. Sometimes it doesn't. You don't get emotionally attached to things that don't work out; you take your resources and put them into something that's more viable. --137.118.xx.xxx




Off-Market No Price (by Deanna [TX]) Posted on: Jan 13, 2022 1:11 PM
Message:

(Oh-- for the mom's house-- the three cooperative heirs were the ones who approached me to buy it within days of the stepfather's passing. :P But yes, both of those are examples of "off-market" places that had seemed positive at first, but ended up not going smoothly at all, due to Reasons.) --137.118.xx.xxx




Off-Market No Price (by 6x6 [TN]) Posted on: Jan 13, 2022 3:18 PM
Message:

--73.120.xx.xxx




Off-Market No Price (by myob [GA]) Posted on: Jan 13, 2022 3:32 PM
Message:

We never purchased an investment house when people were in them. Were always foreclosed and empty. We learned right out of the gate that you spend days and days putting a deal together and the rug gets pulled out from under you-- and usually just before closing.

When there empty-- you put in your best offer-- its a Y or N. --99.103.xxx.xxx




Off-Market No Price (by Dave [MO]) Posted on: Jan 13, 2022 4:05 PM
Message:

I'll ask, tell me what your thinking on price?

Then I would give them a price I would be comfortable paying, since they can't figure out what price they are asking? --173.47.xxx.xxx




Off-Market No Price (by NE [PA]) Posted on: Jan 13, 2022 4:14 PM
Message:

Myob, my best deals have come from roach invested units with inherited tenants and clueless sellers. Foreclosures are great, they come without tenants, but they often come WITH competition. My best deals have no competition. --24.152.xxx.xx




Off-Market No Price (by NE [PA]) Posted on: Jan 13, 2022 4:16 PM
Message:

Iíve had a lady calling me every few months for almost 2 years now trying to get a price out of me because she canít think of one on her own. I havenít even looked at it and The house can sit there for all I care. If I drive there with no price, sheís getting a $0.10 on the $1 offer. --24.152.xxx.xx




Off-Market No Price (by myob [GA]) Posted on: Jan 13, 2022 4:37 PM
Message:

NE I had no real competitions. The/my agent and I had a deal.

We used his commission to adjust the return to the foreclosure company. None of the other agents would do that. I also made the seller keep us as a back up-- most purchasers didn't do that. We offered 10% below asking $ -- with a 1% commission made a huge difference when it came to "BEST OFFER". --99.103.xxx.xxx




Off-Market No Price (by Ken [NY]) Posted on: Jan 13, 2022 5:38 PM
Message:

NE,that is pretty motivated to keep calling you like that.Figure out what she owes then offer to pay all that plus she puts $1000 in her pocket and you pay filing fees and your attorney does the paperwork and you pay your attorney --72.231.xxx.xxx




Off-Market No Price (by NE [PA]) Posted on: Jan 13, 2022 5:40 PM
Message:

I think sheís as motivated as she is loony. Itís always an interesting phone call. --24.152.xxx.xx




Off-Market No Price (by Plenty [MO]) Posted on: Jan 13, 2022 10:45 PM
Message:

Lots of truth above. Could you pull some comps and help them reach a price or ask for a price range? Anything to move the process along. Surely some guru has presented this in an educational talk to RE investors. Look for a book with such directions on how to approach. --172.58.xxx.xx




Off-Market No Price (by Johnny B. [MA]) Posted on: Jan 14, 2022 5:40 AM
Message:

Lots of good advice here, thank you all. --73.186.xxx.xxx




Off-Market No Price (by S i d [MO]) Posted on: Jan 14, 2022 11:19 AM
Message:

Buyer: "You'd probably be insulted if I offered you $5,000 for this property as is...."

Seller: "Certainly! There's no way I'd accept so little."

Buyer: "My thoughts exactly, and I don't want to insult you. What would it take to keep me from insulting you?"

See where it goes. --108.230.xxx.xx




Off-Market No Price (by Ray-N-Pa [PA]) Posted on: Jan 14, 2022 3:20 PM
Message:

Who ever tosses out a number first typically loses. So I love how Sid addressed this.

If they still balk - then follow it up with how about $5,000 and a cup of coffee.

You might need to play this game three or even four times. If the games still continues, save your breath for the next lead. This is a numbers game. Put that lead into a folder with your notes and send them a post card in 30 days. Next --24.101.xxx.xxx




Off-Market No Price (by Chris [CT]) Posted on: Jan 17, 2022 8:38 AM
Message:

There are two types of sellers, those that want to sell and those that don't.

This house sounds like the latter don't waste to much time. --24.45.xxx.xxx



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