Purchasing a 6 unit bldg

[Robert Walker]

Hello

I'm currently in contract on a 6 unit bldg. The building was listed for 650k. The building was last sold in 2006 for 560k. My offer was accepted at 625k. After the inspection  the results came back 20-40k in repairs- most are minor fixes. the major repair is the roof that will need to be replaced in 5 years. I asked the seller to cover the roof repair in which it was countered at 7500 credit final offer.  Despite using a rehab loan to cover repairs and the building rent avg 1500 per unit.  Do you this that this credit is fair and how would you counter? 

[Eliott Elias]

It is completely up to you and how much leverage you feel you have. I negotiate everything.