Buying Property Directly from the Owner

Property Management Blog

As a real estate investor, there are many ways of buying a property. Some real estate investors buy after seeing an ad in a newspaper while others buy when they get a lead from one of their sources. Many look up on the MLS to shortlist a property while, yet others are approached by wholesalers with bargain deals. But nothing beats a property that is sold to you by the owner himself.  If you meet the owner and like the property that he also is interested in selling, you can work out a deal that is profitable for you as well as the owner.

No mediator means no confusion

It is always better to buy a property directly from the owner. There are many reasons why such a deal is beneficial for you. Firstly, there is no third person involved and you can easily develop a rapport with the owner. Both of you can freely express your views and it becomes easier to negotiate the terms with each other. Also, there is no pressure of any leaks or deadline as you can take your time to finalize the deal.

The best part of dealing directly with the owner is that there is no one to talk against you or complicate things between you and the owner. In most cases where several people are involved with a deal, the deal is costly or tiring and cumbersome. In many cases where the seller has a realtor, you must have seen how this man tries to push the owner out of the deal for god knows what reason. He can even try to paint you as an evil investor in front of the seller. Talking on a one to one basis gets rid of all these disadvantages.

Not all owners come to the table themselves

Despite all the advantages, it is not always easy to get in touch with the owner of the property directly. There are many owners who will not respond to your letters and emails. They will not pick up the phone. Trying to reach through friends, neighbors, or even the gardener working on the property may prove futile. These owners do not want to deal directly with you, and they will have one or the other excuse not to talk directly.

Even if you get past the first hurdle and get in touch with the owner, the big question that remains is whether their interested in selling their property or not. It is OK if he is not ready or prepared to sell the property in a week or even a month. At least you know that's its not an outright ‘no’ to you. If you find that the owner is not at all interested in selling, there is no point in wasting your time over a possible deal.

Lure the seller by showing him benefits

You know that working towards a deal is possible if the owner shows even little bit of motivation. You have many aces up your sleeve to make the owner interested in the deal you are throwing at them. You can show the owner the benefits you bring to the table including your reliability and the speed with which you can close the deal. You can talk about the money to lure the owner into selling their property. You can choose the words carefully depending upon the personality of the owner and the time and situation of the meeting.

Communication is direct and to the point when you can deal with the seller directly. Yes, you can buy properties through MLS and ads in newspapers also but there is no better way to a deal than talking to the owner directly.

If you’d like to talk more about property management, or you need help with Everest Property Management, please contact us at Everest Realty. 

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