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I made an offer on a short sale the home needs a new roof and lots of updating and comes with no appliances. My buyers agent said it was priced right as far as the compariables....I offered 8 thousand less to cover the repairs but the bank came back at $126,000...then I accepted I hope I did the right thing...not sure what the leaway is with something like this...Can anyone give me a piece of mind...Thank you... My Location is MI.
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I try to think of it this way, does the price of the home, the price of the repairs, and the price of the additional time, worry and effort (if you could put a price on it) come up to a price that would be a fair price for the home?So I wouldn't concern myself with what the original price for the home was...I would look at what it would cost to buy a similar home in the same area, with a good roof, appliances, and updates, and compare that to the home price.There are simply too many variables on ANY home purchase for any of us to armchair quarterback. You and your agent are THERE, and YOU are the one actually shelling out the money. So ultimately, you have to like the home and the price.I am buying a home myself this year, so I have so much empathy! It is simply nervewracking. Honestly, at least you still have the appraisal if you are financing, so if it appraises for what you offered, you know it was worth it....
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