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Agent says it's a low-ball offer

I'm a first time home buyer trying to figure out if my agent is right about my offer being a low-ball or if she's just looking to get the sale done.

Background: The house has been on the market for 80 days. Listed at 325k, then 315k, and now 309k. The sellers are completely moved out. It's a 1915 home with beautiful woodwork and newly finished wood floors but it hasn't really had many updates done in the last 20 years. Specificity there are cheap out of code windows in the attic primary bedroom, some of which have broken thermal seals, rotting trim, and snapped opening levers. My other concern is the kitchen which has outdated flooring, cabinets, and appliances (one of which is a gas stove with non functioning lighters). There are of course a bunch of other issues but those are all mostly because it's a century old home.

I've compared it to similar houses in the area and they're mostly a spread from 280k-315k but even homes around 300k are updated with central air and newer kitchens (although they may have a bit less character).

I originally wanted to offer 290k because of the problem items above and also because it's been on the market for so long, but my agent said that'd be offensively low. Eventually we settled on offering 295k with a month closing date. The sellers counted with 305k, an earlier close date, and requiring my lender to commit a week before this new close date. My agent wants me to take the deal.

It feels silly arguing over 5% but I'm honestly afraid of losing money after fixing these problems. Am I just being paranoid and should listen to my agent? Is it unreasonable to counter with the same price of 295k but agree to the earlier close date?

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

source https://www.reddit.com/r/RealEstate/comments/1g9dvk9/agent_says_its_a_lowball_offer/
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