We Tell it Like It Is

A set of my buyers have finally found a great house. We've been looking at homes since March. They have some specific needs. We've seen some pretty nice houses, but never quite exactly what they were looking for. Recently, we found a foreclosure that was listed in the middle of their price range and it was in really good shape. It had been on the mkt for 60 days and was in a good neighborhood.

I went home and looked at comparable homes that have sold in the area and discovered that other homes similar to its size & style have been selling as high as $60,000 over the list price of the foreclosure. So, we knew it was a good deal. We offered $5,000 under asking price but then also asked for $9,000 to be paid for by the bank/seller for closing costs. A total of $14,000 under asking price. After 2 business days, the bank/seller suprisingly accepted the offer, but said they'd only pay for $7700 in closing costs. Luckily, this was workable for my buyers.  We accepted their counteroffer that same day and a day later, they gave us some additional paperwork to sign. The additional paperwork from the bank basically repeats over & over again that my buyers understand they are purchasing the home as-is and the bank/seller will not make any repairs or adjust the price according to anything that is found at the home inspection.

We are now awaiting their signatures on the paperwork and once we receive them, my buyers will have 10 days to do the inspection. Hope that goes well....stay tuned.