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How to come up with a purchase offer on the house we're currently renting?

I live in Florida. We've rented our home now for 7 years. The homeowners live in the Midwest. About a year ago the homeowners mentioned they'd be willing to consider selling the house to us, and we replied that we would also be interested in buying. They said, "Make us an offer."

Real estate prices in the area are going up so we want to move on this, but what is holding us back is "making an offer." We have absolutely no idea what to offer. Yes we can check comps in the area but most of the homes have been recently renovated and our house is stuck in the 70s. After living here for 7 years we have a very good idea of what work needs to be done, but how do we put price tags on those things, and how do we know what kinds of work should be deducted from a possible purchase price and what should not?

Could we hire an appraiser on our own and would that be a good way to come up with an offer?

Are we correct to think we could possibly do a sale without a real estate agent (I know the landlords would like that) or is that a bad idea?

submitted by /u/shurshie
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source https://www.reddit.com/r/RealEstate/comments/cjbs9x/how_to_come_up_with_a_purchase_offer_on_the_house/
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