To Counter a Bank's Counter? Or Not?

[Steven Aponte]

BP Comminity

I'd hoped to contribute to the community before asking my first question, but things are moving more quickly than I expected. I made an offer yesterday on a SFR in eastern PA. I went in at list (~65k) and requested 3% seller assist. The property is in great shape and is a Freddie REO. It's a deal at list, but this is definitely a tertiary market, B neighborhood. The property has been listed for about 40 days. I plan to move my sister and nieces/nephew in as my first tenants. I'll hold even if/when she moves out in a few years.

The bank countered with list and no seller assist. Any pointers? My instinct is to place a final offer with a lower seller assist. Yes, I'm splitting pennies, but they are my pennies! Thanks in advance!

[Kathy Henley]

@Steven Aponte Is this an investment? The part about the family being tenants is adding an element that only you can value. Is Sister able to contribute funds to deal?  There will be improvements and upkeep under your ownership. Analyze the purchase with rent as a consideration.  Will you have to reach in your pocket for the next few years to cover the expenses? Will this hold you back from buying another deal next year?