Skip to main content

thinking about putting an offer on a 1950s home

Hey guys! I’ve been looking at houses and condos in the DFW area. I was close to putting an offer on a condo, but the HOA scared me off ($600 a month—utilities included but still). I’ve now found a house I really like and toured it yesterday. It doesn’t seem to be in terrible shape but there are quite a few red flags that I’m trying to assess the seriousness of.

There are a few cracks in the walls and ceilings around lights and in the corners of windows. There is one spot on the wooden floor that could potentially be water damage. I’m not sure about the electric and plumbing yet (water ran fine and toilet flushed okay, and a new electrical panel was installed outside). Nothing is updated cosmetically, which doesn’t bother me.

Realtor is suggesting we go in slightly below listing price (230k, listed at 233k) and then see how the inspection comes back. I don’t mind paying for the inspection, but the only comp in the area is the same size house (on a slightly smaller lot), completely renovated on the inside and looks to be in much better shape. It sold for 225k so I’m hesitant to put a 230k offer and get stuck in that range for a house that needs lots of cosmetic updates at the very least.

let me know what you guys think!

submitted by /u/Itchy_Werewolf_1597
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/r50jj2/thinking_about_putting_an_offer_on_a_1950s_home/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/
Post a Comment
Read more