Finally! A counter to one of my offers.
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?