Property #1
I had two different situations where the owner of a property wanted to liquidate. I found the first via Craigslist. There was posted an estate sale. I was able to talk with the owner of the home about their home they were wanting to sell. They had recently had taken a tumble that had left them with injured knees and was slowly going blind. They needed to sell their property here in Grants Pass, OR so that they could move to Portland to be with their family and easy access to public transportation to make their inability to be mobile more convenient for medical visits. My wife and I viewed the home, which needed extensive updating and cosmetic work to get it out of the 1960s and into the present market conditions. I presented an offer that would be appealing to our investors that liquidate property. The owner was not wanting to take less than current market value. There was unfortunately nothing I could do to help with her situation.
Property #2
In the second case, it was an owner who wanted to liquidate a property that they had received in probate from their parents a couple years prior. They had since been slowly updating and repairing the 1950s home in hopes of selling it. The rehab process had become too much for them to handle. My wife and I viewed the home, which needed extensive repairs and remodeling throughout. I took my finding to our local contractors and determined the costs of the repairs and remodeling. I then presented an offer that would be appealing to our investors. The owner stated that they had receive a higher offer two years prior from another investor and would not be willing to take less. In both situations, the owners of the homes were not motivated enough to release their emotional evaluation of the properties worth. When the time comes to liquidate a property, the investors can only look at the numbers to evaluate a property. Unrealistic expectations will only lead to further costs to the owners in holding onto the property and sometimes even loosing the home as the market changes.