14 Jul Rant: FSBO are so frustrating!
Just a rant–
So my brother + wife are looking for a house. We find one, FSBO, of course. ugh.
The owner is adamant that the house– which is a completely renovated 2/1– is worth $130k. I show him comps that show completely renovated 3/1 are worth $130k. A completely done up 2/1 in the area is more like $110k. This house has a large lot, another 2/1 with a large lot sold for $115k in February.
My brother and wife decided to offer $115k. Owner won't budge. He mentioned that he has been trying to sell the house since March in discussions and I can see that he bought the house for $75k (then fixed it up) in the past year, so he doubles down and raises the price even higher. The reason why my brother + wife were willing to go with $115 is because it is on the street behind my parents. (the owner doesn't know this)
We are walking from the offer, but the owner keeps calling me with the higher offer and I keep telling him, "no."
At a recent neighborhood event (that he didn't recognize me as the agent), he mentioned that he is way in over his head and won't be able to pay the tax bill. So "please send him a buyer."
Some people just can't be helped. I plan to keep a close eye on the property. Maybe we will offer something like $100k each month until my brother + wife find a house, they are in no rush at all.
FSBO are so frustrating. Anyone else have any awful FSBO stories?