SteveO-
Something in my gut says your idea of "lowball" and others on here may be quite different (and you've seen my gut, so you know what a sizeable hunch this is!
).
From everything you've ever told me, your offers are based on numbers-- you crunch them, and you come up with an offer based on this (it's what we do, as well). If the seller can't see where you're coming from, or feels that their prop is worth more, they pass on your offer.
I don't consider that "lowballing". I consider that a fair offer.
In a few instances, I've had the seller try to convince me that their property was worth more. Sometimes it actually works-- they show me something I hadn't considered/factored in (like, this SFH is on a large lot in the city of St Helena. I'm selling it for $160K, even though the house is a tear down-- because the lot is SO big you can subdivide it into 2 or 3 lots-- worth at least 120K ea! (I didn't want to develop at that time, but the person who *did* buy the place did exactly that--- tore down the existing house, built a small one on the back of the prop, subdivided, sold the house on the back, and built a beautiful house on the front lot w/the profits from the sale of the back house).
And sometimes, the seller just isn't being realistic-- like the guy who was trying to sell his B&B based on 100% occupancy (65% is the norm if you're REALLY good-- his was closer to 45% at the time). One hundred percent occupancy is just flat out impossible (you've got to repair things). And it's also not real world (85-90% is about the highest I've seen properties go).
So, SteveO, a request:
Give an example of when you "lowballed" someone-- not intending to insult them, but offering them far less than what they were asking.
And what happened.
-Russ H.
Something in my gut says your idea of "lowball" and others on here may be quite different (and you've seen my gut, so you know what a sizeable hunch this is!
).From everything you've ever told me, your offers are based on numbers-- you crunch them, and you come up with an offer based on this (it's what we do, as well). If the seller can't see where you're coming from, or feels that their prop is worth more, they pass on your offer.
I don't consider that "lowballing". I consider that a fair offer.
In a few instances, I've had the seller try to convince me that their property was worth more. Sometimes it actually works-- they show me something I hadn't considered/factored in (like, this SFH is on a large lot in the city of St Helena. I'm selling it for $160K, even though the house is a tear down-- because the lot is SO big you can subdivide it into 2 or 3 lots-- worth at least 120K ea! (I didn't want to develop at that time, but the person who *did* buy the place did exactly that--- tore down the existing house, built a small one on the back of the prop, subdivided, sold the house on the back, and built a beautiful house on the front lot w/the profits from the sale of the back house).
And sometimes, the seller just isn't being realistic-- like the guy who was trying to sell his B&B based on 100% occupancy (65% is the norm if you're REALLY good-- his was closer to 45% at the time). One hundred percent occupancy is just flat out impossible (you've got to repair things). And it's also not real world (85-90% is about the highest I've seen properties go).
So, SteveO, a request:
Give an example of when you "lowballed" someone-- not intending to insult them, but offering them far less than what they were asking.
And what happened.
-Russ H.
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