Skip to main content

Need To Get An Honest Opinion

I own a house in a small town. The house is in good shape. It could use some sprucing up and the like, paint, cleaning, a few simple repairs. I have checked the listings on it and it is listed at $87,900 to 93,700. The area is currently growing as a new company is coming into the county. Another company is interested in the house, they want it for out of town visitors/business persons to have a place for extended stays. They have made me an offer of $75,000. The gentleman that I have been speaking to about it has said that this is their one and only offer. He has also said that the repairs to the house would be too much for them to put anymore than this offer into it. He is considering more than just some sprucing up. They want to gut the place and start over. I feel like any extravagant replacements/repairs are on them. I really want to sell, but would I be a fool to accept 75 K? They will pay cash and all of the closing costs. Or should I see if their final offer is not so final and see if they will come up a little. I would be willing to meet them in the middle. They have one other option which is to build on some land, there are not a lot of choices in the area at the moment. I'm just really at odds on what to do and could really use some sound financial/real-estate advice. For those that answer me, thank you so much...in advance.

submitted by /u/redlion496
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/vjijyh/need_to_get_an_honest_opinion/

Comments

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...

Pool fill without engineer oversight

We are in the process of purchasing our first ever home in CA and we just discovered in the disclosures that the new build property we are purchasing previously had a swimming pool which was filled without an engineer onsite to approve the work (details from disclosure below). Is this something we should be concerned with or not? Is it something we should have additional inspections conducted on? We are originally from the UK and not really sure what to do with this information and if it is concerning or not. A POOL DID EXIST PREVIOUSLY. COPING, TILE, GUNNITE AND REBAR WERE ALL REMOVED AND DIRT AND CLEAN DRAIN ROCK WERE USED TO FILL IT IN. COMPACTED FILL WAS NOT USED AND NO ENGINEER APPROVED THE DIRT AND DRAIN ROCK FILL IN submitted by /u/tommot82 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dpyzw8/pool_fill_without_engineer_oversight/

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/