Purchasing a Fixer Upper in 2022

[Ana Vergara]

Hello! I am looking to purchase my first property. My husband and I found a house selling for 282K in the Inver grove heights area. It's a very family friendly, safe area, and close to work in the cities. However, we estimate that it would need close to $60,000 worth of work. My question is do you usually subtract this from the offer you make? I know we are still very much in a sellers market but this house needs major renovations. Additionally, do folks usually contact contractors to give them estimates before making an offer? Are folks doing that considering how quickly the market is moving?

Thank you!

Ana