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Updated over 7 years ago,

Account Closed
  • Louisville, KY
10
Votes |
32
Posts

Finally! A counter to one of my offers.

Account Closed
  • Louisville, KY
Posted

Got a counter to my 3 option letter!! The counter is reasonable and my numbers still work for a buy and hold. 

ARV $69,000 as a 2br, however could easily be listed as a 3br.

Repairs ~$29,000. 

Asking: $34,000 

Rents for $1,000/mo. 

10 yrs interest only @ 7.5%. Balloon due after 10 yrs/option for 8yr payoff of remaining balance seller financing.

When i went to see the property, utilities weren't on. I would like to go through with an inspector with the utilities on to sure up my repair estimate. How do I approach this with seller? She was willing to sell to first time home buyer so I assume she would be open to official inspections. Accept counter offer terms and send purchase contract with inspection w/ utilities on contingency? Accept terms then ask about utilities?

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