Home for sale by owner for $119,000. How much should we offer?We are newlyweds in search of our first home. We found an older home (about 50 yrs old) in a nice/safe neighborhood that is for sale by the owner of the home's (who is in a nursing home) children. The asking price is $119,000. We decided to get a home inspection done before making an offer on the home. The home is in pretty good shape according to the inspector with only minor issues. It needs to be updated but other than that, it's a nice home. We were pre-approved for $119,000 by our bank via an FHA loan. My husband and I would like to offer $112,000 and want to ask the home owners to pay $4500 in closing cost. We would also like to include the refrigerator, washer, and dryer in the sale... (they are all old but still functional and in good shape). We don't want to insult the sellers with a really low offer...so, is our offer reasonable? April 26 2011 - Alexandria00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.