inspection and first offer

[S R Scearp]

I am looking at purchasing the 3-unit that I've been living in for the last 6 years. The seller is not putting it on the market because he doesn't have a timeframe to sell, but at the same time he would prefer to get rid of it as soon as possible to finance his graduating son's future college education. The house was purchased from his in-laws as an investment for this purpose, and so they sold it to him very cheap.

In talking with an agent, they basically told me to make a low offer and hope the counter-offer was in the ballpark of what I find acceptable to pay. I asked if it would be beneficial to have someone perform an inspection and they advised me not to, since I would need an inspection performed to satisfy the bank anyways and not to pay for it twice; that anything found during the inspection could be re-negotiated.

Upon further thought, this doesn't seem to be good advice to me. Would it not make more sense for me to estimate a number the owner would counter with, then subtract what an inspection would reveal with respect to things that need to be repaired, and providing that information along with my initial offer in order to justify my calculation, rather than submitting something to my landlord that looks like someone just made a random offer? For example, part of the roof is in need of replacement, I would want to use that as leverage to reduce the sale price, but without an estimate I would have no idea what it would actually cost to do so.

The owner writes mortgages for a local bank, so he has a finger on the pulse of the local market (I will not be using the bank he works for). I don't expect he will hold out for top-dollar, but given the current local market, I know what I am willing to pay and I just want to cut down on the back-and-forth and sign an agreement as quickly as possible. I feel if I can show that my number is based on reality, he would be more willing to accept my offer, or counter closer to it, in order to sell quickly. He will be making almost 100% return even at a low-ball offer due to purchasing from his in-laws.

So, should I pay someone to perform an inspection on the property prior to making an offer, or not?

Thanks