Long time listener, first time caller.

[Brian Lally]

“Let’s jump right into it” I’ve heard it’s good to start with what I have to offer: So... I currently reside in the Chicagoland area. I have some experience remodeling homes, general demolition and construction and handyman work. Aside from being pretty good at swinging a hammer. I make damn good pizza and can exchange dog training advice in exchange for real estate knowledge. I Just put in an offer on a 100 year old house that has been sitting on the mls for over 700 days. Price has dropped roughly 10k in the last 2 years. My initial offer was 10k less than the current list price w/ 20% down, 1 year home warranty, inspection & financing contingency etc. Seller made a counter offer a few thousand less than listing price with NO home warranty, split closing cost and some other little things like they are keeping the front door but will replace it with a different one. I came back with a few thousand more than my initial offer asking for the home warranty again. I have physically walked through this property twice now. All major moving parts and appliances in the home seem to be in working order water runs toilets flush theirs heat but no central A/C, fuse boxes with mostly 2 prong outlets. Exterior siding needs repair and paint, and the stove in this place resembles a 1957 Cadillac Eldorado. It’s awesome! Seller stuck to their counter price and offered to split the cost of the Home warranty. From what I can gather their are several siblings involved in selling their parents old house. That no one currently occupies. Selling agent has been rather sluggish with details and slow to respond. also dropped a hint that they had another offer. (No confirmation on said offer) I plan on this property as a primary residence, long term live, flip and learn. 4/5beds 2 baths 1900 sq.ft. on 4 City lots (I have not received a land survey or home inspection yet) My main concern would be discovering that the initial cost in order to bring the property up to code and safely habitable would be well over my budget. Should I be more focused on getting an accepted offer first and adjust my purchase price and contingencies pending the inspection and estimate on repairs I’m curious to what my next step could or should be?