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Tacky or clever?

I think I found my dream home. It is in a “highest and best” bidding war - due tomorrow at 5 PM.

The biggest flaw with this home is the backyard. It’s relatively small and sloped. We want to put in a pool and a retaining wall to fix the issues. With a 5 PM deadline to work against, I went into a deep dive on town building and zoning codes and used public data along with google maps to measure distances and determine feasibility. I’m not a structural engineer but do have a ChemE degree so I can work with numbers and interpret codes. If my offer is accepted I’ll bring my friends who are local residential architects for some insight and will potentially hire a structural engineer for advice.

Despite alllll that, I have come up with a pretty significant figure to offer. We can go beyond $800k but, frankly, we’re already going to be throwing $100k into renovations immediately as it needs it(our second child is due in late August). So, I just don’t think the home is worth more than $762k based on the latest tax assessment, but I can be super wrong about that with the heat of my local market and time of year (Ocean, NJ).

Here is the timeline so far:

Listed for 728.5k last Friday. We went and saw it on Sunday. Put an offer in on Monday for 730k to gauge what’s happening. Heard back that highest and best is due at 5 PM today, Wednesday. My realtor recommends 760k. I’m thinking let’s try for 765. And so I thought, huh, why not 765,432.10. Is that tacky or should I just stick with 765???? I love it and makes me think we will stand out BUT I don’t want the sellers to think I’m messing around here either.

Here is the last kicker… I looked them up on google just out of curiosity and the seller is linked to an address in NYC (a co-op community) that I also lived in for over 5 years)!!! I mean, NYC ain’t small. We would’ve lived 1.5 blocks apart. Isn’t that wild?! I know you can’t trust these websites 100% but even so, the chances are pretty slim. I haven’t looked up that address in years, I moved out in 2015. I just keep thinking more and more this is our home and need to maximize my odds here. I’ll be slightly devastated if I don’t get it, but can’t justify spending more than $765 for it.

TLDR: Anywhoooo, is the offer $765.432.1 tacky/risky or should I just stick with 765k????

submitted by /u/mmutinoi
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source https://www.reddit.com/r/RealEstate/comments/1kgsnjd/tacky_or_clever/

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