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Updated almost 8 years ago,
Offer strategy when major repairs are needed.
I'm looking to purchase my first investment property. It probably about a $93k property. However the walls in the basement are bowed and previous offers fell through because it would pass inspection for financing.
I'm confident repairs can be made ( structural engineer to review tomorrow). The home is part of an estate an heirs realize cash offer will be necessary.
My question when making offer would I simply deduct repair bid from fair value or factor in additional hassle. Don't want to insult owner but wonder what is fair and customary for such situations.
Thanks!