I am interested in a piece of property that is on 5 acres with a home, barn etc. The owner wants 99900.00 for this property and when I do the comps the house with improvements is only worth 51,390.00 The seller is asking 48,000.00 way over appraised value. I was wanting to do a Lease-Purchase Option with this property but I learned that the owner says they need the money and cannot go lower nor can they do a Lease Purchase Option as they need the money up front. I do not believe in the current market they will not be receiving this amount of money.
I feel like the Realtor is not encouraging the seller to be realistic with this property but the realtor is asking me what I think about their offer. Other properties on this street are selling on an average of 60,000.00 at this time. I see this property as an opportunity because the property is nice but how do I motivate the seller to deal creatively here.