Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated about 8 years ago,
Retracting offer to make lower offer after more info
I recently put in an offer on a triplex that hadn't been accepted yet. We just received additional info. The seller inherited the house from his parents and can't afford it. It needs a roof and new electrical box. So I'm considering switching to a 203k loan and getting it. My thoughts/questions:
Should I look at this as a possible edge? Meaning, offer the seller 15k less (estimated cost of roof/electrical box) and just incorporate it into my loan? I feel like it's win-win bc I'd be getting a new roof on my investment and get the house for a lower cost. Any similar experiences or advice? I'd love to hear it!
Thanks!
-josh