I decided to have the listing agent help represent me in writing an offer for a home that I like. However, my family has been telling me to just back out of the offer because buying it overlist isn't worth it. But I felt that my numbers worked out if I went over just 20k list price. Should I pass?

I currently am looking to buy a home that's a fixer, in a very hot market. The property I'm looking at once fixed up, we'd look to see it valued at $620k, as the house down the street same with the same floorplan, which sold for that price back in February.

The list price of this house is $499k. I guess I like it enough that I keep driving to look at it. I guess my question is should I offer from the $499k-$525k range? I was thinking if this home just doesn't happen to workout for me, I want to net a good profit too. I don't want to be buying this home for more than what it's worth. I want to net a profit of like $60k or so at least from this transaction. Given this home is going to need $50k worth of repairs. It's only 900 sq ft. Very small home but so many repairs needed. The seller has provided a complete report of the inspection they done for the property as well.

When I told my newly found agent, whose also the listing agent for this home, that I want to offer less she give me this look. Lol. I said ok then I think I'll just do full price asking at $499k, with 5% down conventional. And then she asked me to send proof of funds when she emails me the offer and said no letter is acceptable. I wanted to personally write a letter to the seller, but it is considered against the Fair Housing Act. But proof of funds really? Isn't that too early in this stage to provide that? Why would I waste anyone's time if I can't buy.

She didn't even write up my offer and have it sent to me til 11:50PM at night. I'm starting to think if I should offer at 525 to even be considered. Because I feel like she's not even taking my offer seriously. What do you guys think?

submitted by /u/itspazzy
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source https://www.reddit.com/r/RealEstate/comments/o9hlac/i_decided_to_have_the_listing_agent_help/