Been renting a home in Katy for about 3 years and want to buy it. Any advice for approaching my landlord?

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Run a CMA on the home, get pre approved and have all the answers before you approach your landlord. Be prepared and show them that you are serious about buying the home. Obviously there may not be an urgency for them to sell to you so you will, more than likely, need to make your number appealing to them. Here's something really important you need to do. Sit down with them, present the offer, keep it really, really pleasant in conversation. If the landlord looks at your pre approval letter, CMA and everything you have compiled, and still says "no thank you", SMILE, SHAKE THIER HAND, STAND UP AND LEAVE. Wait a few days. I will gaurantee you they will go home and give it thought and put a calculator to it and will call you back to the table! NOW! You know HE wants to sell - offer them less than originally (you don't have to and it is a risk, but I would do it!). Remember, negotiation is not about being mean and hard nosed, it's about being very nice, complimentary to other party and really hearing and understanding thier wants vs. needs. Good luck to you!

Answered by Erin Young on December 30, 2007: Profile | Contact | Website

Thanks for the advice Erin! I am going to approach him at the end of the month. I'll let ya know how it goes.

Answered by James on January 1, 2008

If you decide not to buy, contact me. I have 2 almost new homes in Katy that are pre foreclosure, new condition and priced to sell. Thanks

Answered by on January 19, 2008

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