Just put an offer in....

[James Mandel Jr.]

I put an offer in on a 1934 bungalow style home.  I'm going to live in it for a year while I'm remodeling.  They are asking about 116k.  The comps are selling at 125k same condition.  I offered 105k.  The market here is exploding.  I'm speculating when I say this, but this area will more then likely be out of my price point real soon.  I'm buying this home to hold it long term.  If and when they come back demanding full price, what is my move?  It's unfortunately in a perfect location, so turning it down would hurt.  Help?!