What do you think of this offer?

[Sean Ridlon]

I’ve had a SFR for sale since November. Asking is 200k, owe 84k. Getting a lot of low balls but traffic is steady. A contractor friend has asked to buy on terms. He did a lot of the work on the house so there’s no surprises for either of us there. Terms offered include: 1) moving in a renter of his (long time employee). 2) less than asking price 3) one year financing with large payments I like #1 with a lease from me, not to the contractor. I don’t like #2. I think it should be asking or better because of the terms. FYI his “cash price” offer was 140k. What would you do?

[Sean Ridlon]

Ryan, the comps are tough on this one. It’s in AK where there’s not a lot of places like this one (3/2 on 5 acres) but what we have is telling us we’re underprice. But your point about it’s worth what someone will give you is well-taken.

The time on market point for this area is weird, too, for AK. There’s really a sale “season” and it runs from Jun 21 to the end of October. AKA “summer” lol. I definitely am not looking forward to paying the heating bills on a vacant house over winter.

Maybe I should give him a little break but not too much.