How do you approach LOI presentation?

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May 29, 2018

by a searcher from Emory University - Goizueta Business School in Atlanta, GA, USA

I just heard back from a broker about my submitted LOI, "The sellers have decided not to accept your offer and not to counter your offer. They don't feel there is any chance of coming to any kind of agreement with that big of a difference in offer and asking price".

I'm curious to hear how this community handles communicating LOIs. Cheers!

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Reply by a searcher
Can you get a sit-down meeting with the Seller to walk them through your offer? If you take a diligent approach to explain the reasons you came to a different value than they have, many times it helps soften the seller’s stance, and allows you to continue the conversation. It’s been successful for me in the past.
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Reply by a searcher
from University of Pennsylvania in Miami, FL, USA
You can gauge expectations prior to submitting. However, even if the gap is large, you could still submit as you never know what will happen. In the case above, I would recommend a conversation with the broker to better understand the gap and how you could potentially bridge it.
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