HellBill » Bills Categories: » Phone Bill » How can I get these greedy jerks to sell me their estate house for $150k?

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: I'm trying to buy a house in Livonia, Michigan that is WAY overpriced at $220k. It is part of an estate, and the heirs are being complete a$$holes about the price. It has been shown at least 20 times during the 6 weeks it's been on the market. The only offer they had was mine for $150k cash, no inspection. I'm an investor who renovates/re-sells houses. They fail to understand that even if they received an offer for their asking price, the house would NOT appraise for that because it is completely outdated. It was built in 1967 and no one has done anything since it was built. There's not a single room that looks nice, and the basement looks like a dungeon. It needs about $40k of renovation. The house would be worth $220k IF it were completely renovated.

They don't need the money because they are already well-off. And this was never their house or money to begin with, so anything they get would be a windfall.

The house is listed with another agent in my office (I'm also a realtor). He was telling me all these stories, including how the executor of the estate has been cussing the listing agent out and acting belligerent over the phone when he is reading him all the negative feedback comments from other agents who have shown the property. The comments all pretty much say the same thing -- "too much work for the price", "completely outdated", or stuff to that effect.

Why hold the house through the winter and keep paying the taxes, utilities, heating bills, snow removal, etc.? This is just eating up the money from the estate, so the longer they hang onto it, the less everyone will end up getting. They should have taken my $150k cash offer right when it came in, and been done with it.
No matter how desperate the buyer, it still won't appraise for much more than I'm offering. No one will pay extra cash for this house, because they would need that cash for renovation.
@acermill: So, you're saying that investors should flip houses for nothing, right? Let me ask you: If you were a house flipper, would you make an offer knowing that you would just break even?
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: statistically home sales go up during the summer (when people with families move),,, maybe they are waiting to see if they get a desperate buyer then? a guess
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