We were looking at this home, it's being sold as a short sale. The asking price was $139,900 and we bid $125,000 for the heck of it. Well, the bank came back and said the best offer was $130,000 and said to us and the other person who offered to give our "final and best" offer. We were thinking about offering $135,000, but just don't know what to do. The home is wonderful, in a great neighborhood, ect. But we didn't get a home inspection and no repairs are to be completed by the seller. Nothing looks wrong with the home and we had people look at it who know things about structure, ect. Also, it was built in 1997. SO I guess what I'm asking is...what should we do?? Walk or make the bid.
2007-09-04 15:36:45 · 2 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Walk.
Don't buy it without a thorough home inspection. (I suppose you could make your offer contingent on a home inspection, but I'm not sure). You don't want to be surprised with $25K in unexpected home repairs.
Don't buy it if you cannot easily afford a $135k mortgage (you don't mention whether this is within your price range).
2007-09-04 15:47:47 · answer #1 · answered by Troy 3 · 0⤊ 0⤋
If you have any questions, then don't let anyone press you into outbidding "someone" else. It is a buyer's market so there will be lots of other houses available and you will probably be able to find an excellent deal. Remember salespeople are in it for the $ and it's all part of the game. Be sure you are playing your best game too.
2007-09-05 01:01:01 · answer #2 · answered by towanda 7 · 0⤊ 0⤋