Cupcake? Heresy? Pony? 4 stacks of plexi?

Bytor1958

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Man we got low balled on my dad's property.

Our Dad past away in January.

A friend of my younger brothers wants dad's property. He said he would give us a good offer. He's just starting to get into rehabbing. He's investors pulled comps in the area. The lowest one was $110,00.00. They had him make a offer of $72,000.00. My younger brother had a real estate agent look at the property and give us some comps. They came back with 3, The $110,00.00, $148,000.00 and $180,000.00. The Zillow estimate comes back at $152,000.00.

After discussing this with my brothers we are declining his offer. I know he has to make some money and dads property needs some work. But really. I told my younger brother to counter back at $100,000.00. If he doesn't counter back we will take care of fixing it up to get in on the market.
 
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JonCanfield

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Man we got low balled on my dad's property.

Our Dad past away in January.

A friend of my younger brothers want dad's property. He said he would give us a good offer. He's just starting to get into rehabbing. He's investors pulled comps in the area. The lowest one was $110,00.00. They had him make a offer of $72,000.00. My younger brother had a real estate agent look at the property and give us some comps. They came back with 3, The $110,00.00, $148,000.00 and $180,000.00. The Zillow estimate comes back at $152,000.00.

After discussing this with my brothers we are declining his offer. I know he has to make some money and dads property needs some work. But really. I told my younger brother to counter back at $100,000.00. If he doesn't counter back we will take care of fixing it up to get in on the market.
I imagine the flippers are always going to lowball to maximize profits after rehab. I wouldn't really expect it from a family friend, but some people don't care about that sort of thing
 

Bytor1958

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I imagine the flippers are always going to lowball to maximize profits after rehab. I wouldn't really expect it from a family friend, but some people don't care about that sort of thing
He wants to fix it up and rent it then possibly live there. I have that feeling his investors are pushing this lowball offer. If he got it for $72K put 18K-20K into it he would make a large Profit.
 




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