I though this would be an enlightening experience for the trained investors to help out everyone understand how to get from point A to point Z on a deal.
I have found a motivate seller. I don't know if I could of found a more motivated seller but that is yet to be seen. Here is what I have found out from the seller based on his post on another site:
"MUST SELL NOW! For an IMMEDIATE SALE, this extremely motivated seller will entertain any REASONABLE offer! IF YOU'RE IN THE MARKET FOR A BEAUTIFUL HOME AND A FANTASTIC BARGAIN, YOU REALLY SHOULD TAKE THE TIME TO READ THE FOLLOWING INFORMATION AND CHECK OUT THE PHOTOS:
GREAT NEIGHBORHOOD, GREAT NEIGHBORS! IF YOU HAVE CHILDREN, THERE'S STILL TIME TO ENROLL THEM IN THE HIGHLY RATED SCHOOL DISTRICT.
Appraised previously for $240,000 and originally listed for $239,900, the price has progressively been lowered to $189,900! This Creve Coeur Ranch Home is being offered FOR IMMEDIATE SALE BY AN EXTREMELY MOTIVATED SELLER WHO IS WILLING TO NEGOTIATE FOR A QUICK, NO CONTINGENCIES CASH SALE! MAKE ME AN OFFER TODAY!! This is a large hilltop ranch home with terrific curb appeal. Fabulously landscaped lot (nealy one half acre). This spacious four bedroom two and a half bath home features a brand new air conditioner and recently installed furnace and has been totally re-painted and updated with all new six panel doors. Completely finished lower level features a huge recreation area with slate bar, office area, laundry area, large storage area, 1/2 bath, and walkout to lower patio and extremely convenient top line Morgan Storage Building.
The large, cathedral ceilinged family room opens out on to the upper level patio and charming gas lit gazebo, complete with gas grill. The L-shaped great room also features a 12 foot cathedral ceiling and is perfect for entertaining. All bedrooms feature brand new wall to wall premium carpeting over hardwood floors. The oversized two car carport can easily be converted to an extra large two car garage with a minimum of construction if desired"
Ok, that is there listing so I figure there is a deal to made somewhere in this equation.
He is asking $189,900 and he said the house previously appraised for $240,000 and he started at $239,900. So I have no idea when it was appraised at $240,000.
I have also not got around to calling him to ask him what the situation is because I have very little idea what to say.
The reason I haven't called (and I know it isn't a very good one) is that from the totalviewRealEstate site the house is only coming up as $171,881.
Now I understand that isn't the end all be all of REI appraisals but I have been using it as my jumping off point.
So the seller is motivated like crazy. The house has been listed several times so he has figured out that he needs to come down off his price. Now I just need to figure out how to turn this into an amazing deal for both him and myself.