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Updated about 8 years ago on . Most recent reply

User Stats

26
Posts
4
Votes
Josh Joly
  • Deltona, FL
4
Votes |
26
Posts

Retracting offer to make lower offer after more info

Josh Joly
  • Deltona, FL
Posted
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

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