Help Negotiating Please

[Marcos Carbi]

Listing: 8 unit multi-family consisting of 4 duplexes on one parcel of land | asking price: $1,100,000 | fully rented at $115,200 | new roofs (2021) on all 4 duplexes

I sent in an offer for $1,145,000 with 10 day inspection period as my market is very competitive. The property has been listed for 2 days and they have one other offer so far; mine being the better offer. They countered my offer with $1.145mm, 7-day inspection, and asked I pay the $8,015 doc tax at closing. 

What do you guys think I should counter with? Should I stick with my 10-day inspection and do a full inspection? Or only a 4-point?

Thank you!

[Chris Davidson]

@Marcos Carbi do you need the 10 days? if its 7 business days that is a long time, 10 business days is eternity in my opinion for 8 units 4 buildings on one lot. Then it is just down to the 8k increase or .007% increase on your offer. That's personal, but if I wanted it I wouldn't let less than 1% stop me from getting the property I wanted. However if I wasn't all in on it or if the deal didn't feel right may counter with different terms. There is a lot you left out like EM, how its being purchased, and depending on those could have a different response but that's my two cents.

Love to know how it turns out. Best of luck!