There’s a home in a prime location in the city that was initially $450k but went down to $390k - I offered $370k & they accepted. Turns out the house has problems. The AC is extremely old, the roof is leaking (need to replace the whole roof), and there might be a foundation problem (contractor apparently said it was fine, but there was an evaluation done from my realtor who hired someone they know that I wasn’t initially aware of). Then there’s little things like sinks are broken, floor is worn out, & other cosmetic issues.
The home itself is in a super good location (all the homes around are way over $400k and some million dollar homes in the area).
At a first glance, the house is gorgeous. High and soaring ceilings, and it has a lot of space. For a house in the city, it’s 2.5 sq ft and has a small backyard. The flooring is real wood so I’m thinking of restaining it.
I’m just not sure if it’s worth the repairs. Apparently the seller did not do any maintenance on the home hence why the condition isn’t the best.
I was thinking of trying to get another $20-$30k off or in closing credit, though that might be ambitious. I’m not sure how to navigate. First time home buyer here!
[link] [comments]
source https://www.reddit.com/r/RealEstate/comments/z1vcu4/negotiate_a_lower_cost_or_ask_for_closing_credit/
Comments
Post a Comment