I was wondering if anyone can comment on my first potential deal. I have not yet provided an offer to the seller.
Prop is selling for 208K and it needs about 25K of repairs. When I went to the bank for financing the bank estimated the house to be 258K. My intent is to offer full price and have the seller pay 22K in closing. My question is what other techniques I can use to restructure the deal that could sound attractive to the seller?
The city assessed the prop at 247K. The average sell price in the area is 259K.
What other things should I be considering? As you can see I am sensitive to this deal since is my first one. I really would like to buy without the need to use a lot of my own money and find out what should be my maximum offer before I walk away.