Fair offers- what is fair offer conpared to asking

[Cody W.]

Small town (40,000 pop)…what is a fair offer? I have a house I have looked at and asking price started at $85k. It’s been on the market 1 year and is now at $75k. It needs a roof and has some bathroom foundation issues that need addressed. I figured on $15k in rehab and think it would rent for $800-$850/mo. I would like to offer or be in it for $60,000 purchase price, but don’t want to offend the seller. What would your advise be?

[Jonathan Greene]

At a year on the market, you shouldn't be worried about offending anyone. Have your agent ask the listing agent what the highest offer they have gotten so far is. I really doubt it's stayed on the market for a year with only 15k in rehab and then a potential 1% rule rent out. I think you are missing something.