Is it a 3 or 2 bedroom/ First deal, please help!

[Khadijah New]

Hi,

(This is my first offer, I'd like to wholesale the property but also offered the seller a lease option which if accepted I will hold the property and rent it.)

I put in an offer on a single family home and the real estate agent (whose an associate of mine) called me to let me know she would submit the offer but more than likely it wouldn't be accepted because it's too low (seller's asking 60k, 3 bedroom comps sold for average of 40k, I based my offer on an arv of 36k and offered 24k). The home has been completely updated and is nice but based on the comps I believe it's only worth $36k. I explained to the realator the big factor is that it's only a two bedroom. She is adamant that it's a 3 bedroom and says the auditor sites list it as a 3 and an FHA appraiser said it's a 3. It does say that it's a 3 on the auditor site but I believe it's a two because:

a.) the room is a pass through/is connected to larger room

b.) room doesn't have a door

c.) room has a window but doesn't have a closet.

Please tell me if I'm wrong about this and it's a legal bedroom or if she's just doing her job and trying to sell this house?

I appreciate your help. Thanks in advance for your assistance!!!!!!

Ps. owner lives in another country and property has been on the market 3 YEARS!

[Tom Sylvester]

@Khadijah New - I would not get caught up too much on a single deal. Run the numbers and submit what makes sense for you. It may take a while to find someone who is motivated and will accept an offer that makes it a good deal for you, but do not get too caught up in "blowing the deal". A new deal is popping up every day. The common saying is look at 100 properties, submit offers on 10, buy 1. Now whether or not that is true for everyone, the concept does have some merit.