Hello all,
First time buyer looking for some professional or experienced input.
My husband and I are a younger couple looking to buy our first home. We have already been preapproved for a home loan and have found a home we really, really, like. The home is a flip, pretty much new EVERYTHING. We've already checked it out with several contractors and they've all said there are no noticeable problems and those who flipped the house did not cut corners on the construction. The well and septic have already been inspected and approved as well.
The seller of the house is the contractor who had flipped it, initially buying it for $46k. It has been on the market for 2.5 months with a $5k price reduction yesterday. Right now, he is asking for $175K (our relator thinks even though it is a practically new home, this is overpriced for the size and area).
Our relator suggested we come in with an initial offer of $140k that has us covering closing costs. In the contract it will also state we will be in the home in 30 days. She believes this is fair because we will need to buy a few appliances and the contractor is probably eager to sell and stop paying for the mortgage. In addition to this, it seems the same contractor is flipping another home on the same street.
My husband and I are worried this is too low and they may just ignore us completely, even given the circumstances. We'd love to get some opinions, we may be over thinking things but we really do like the house.
Read more: Is Our Initial Asking Price For This Home Too Low?
