Quirky Seller! - Posted by Jim IL

Posted by Jim IL on April 22, 2000 at 15:09:21:

No offense intended, but this deal is not mine alone, or should I say “Lead”.
So, therefore I did not give many details, and frankly, was just kinda venting about this guys tude and strange requests.
The fun part is that he got my mailed offer and called today.
We are creeping closer to a deal here, I can feel it.
Once it is completed, we will post it here.

Have a great day John,
Jim IL

Quirky Seller! - Posted by Jim IL

Posted by Jim IL on April 20, 2000 at 22:56:13:

Hello all,
Well, I have had a busy couple of weeks here.
Working on my new J.O.B. (only temporary, I swear!), and seeking out deals daily.
And, after looking at many homes, making many calls, and talking to a few sellers, I ran across a seller who really challenged my patience.
This guy obviously did not understand much of what I had to say, and trust me, I REALLY TRIED to explain everything a few times, a few different ways.
He had some CRAZY ideas in his head, and simply would not listen to me. (I know, non motivated, but maybe not.)
So, here is what he requested;
He was willing to look at any offer I would send him, IF it was “presented by a lawyer”.
I was not sure I heard him right, so I asked him to clarify.
This seller would only look at an offer IF I hired a lawyer to bring it to him.
And, he said that any offer he received, he would immediately send to his lender for approval.
I never said anything about assuming the loan, or anything requiring the lender to look at the contract.
But, I did pick up on a few key things he said.
The guy wants to move out of state BADLY.
His entire family is already there, and he even has a new home there already.
He does not want to worry about his loan on the home for sale.
He was most concerned with getting the balance covered.
So, in my usual creative mind, I thought immediately of “Getting the deed”. (or a L/O maybe a L/C, but with him 1500 miles away, I was not too thrilled with offering that.)

So, here is what we decided to do. (yes, I said WE, I have partners in this run. You’ll hear from them as soon as we ink our first deal together I am sure, expect that in at least two weeks, maybe sooner.)

I mailed this seller an offer this morning, telling him the number he was looking for, but doing this “subject to”.
Now, we shall see if he even responds?
If he does not, no big deal, I only spent about 30 minutes total on this, and $.33 on a stamp.
I am hoping that he will see the price he wants and not really be all that concerned about the “Terms”.
Who knows, this may be one of those deals where he will hold my contract in hand, and keep trying to sell from his FSBO sign that is the size of notebook paper in his window, and then give in and sign with us?
Wouldn’t that be sweet!
Of course the offer I mailed has an expiration date on it, so if he calls later, we will re-negotiate a bit.)

So, wish me luck, cause that is all I have for this deal.

Sometimes this business makes me laugh,
Jim IL

Re: Quirky Seller! - Posted by JohnBoy

Posted by JohnBoy on April 21, 2000 at 15:59:40:

Hey Jimbo!

You don’t give any numbers on this deal. You said he’s most concerned with getting the balance on the loan covered and wants any offer presented by an attorney to send to his lender.

Is there any equity in this property or is he just trying to get the lender to except a reasonable offer near the balance just to get out from under the mortgage? It sounds like no equity here? FSBO, concerned about getting loan balance covered, wants lender to see offer, and wants contract submitted by attorney for lender?

What’s the property worth compared to the loan balance?