There is a house that I really love that is on the market for 680k. It was built in the1800s, and while there are some updates it is still super vintage. Anyway it’s been on the market for a little over a week. Is it considered a bad offer at 640k, we let them pick the close date, and I waive any price reductions due to inspections?

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I don’t think that’s a bad offer at all! What’s the worst think that can happen? They say no? Then counter back



Old house in vintage condition could mean some big expenses. Heating, asbestos wrapped pipes, oil heat, oil tank, check at least that electric is updated. The list goes on. You can do it, but it helps if you know what you’re doing. If it hasn’t sold quickly, developers and flipper probably passed for a major reason that numbers wouldn’t work. Good news it probably has good bones, well built. Try and find out as much as you can, walk the neighborhood, talk to neighbors.


Who knows. They might have offers for $800 already. Yes need to assess what other houses are selling for to answer this. In most places, houses are still selling for over asking price.


We bought a 1969 house for 950 ~3 years back and it’s already needed 30-40K in repairs and maintenance. New fence, new furnace, new windows / doors, carpets, arborist…. Now we need AC installed which is another 7-10K. We do like fixing it up but it you will need some extra cash for emergency and non-emergency repairs. Definitely get an inspection on the condition. Ours wasn’t too bad but if there is rot or major issues you may be stuck with a massive bill. And ours is just 1969 - can’t imagine something from 1800s! You’ll also need to watch out for lead paint chips, especially if you have young kids. Get painting fixed and sealed immediately and maybe consider doing a test for it.


Buy a home warranty policy for the first year so that you have some protection.

Offer what you think is fair. I just closed on a house listed for $675k built in 1995. It was on the market for 3 weeks. We offered $625k and wound up at $655k with them including ~$5k of tools and supplies (lawn mower, generator, snowblower, leaf blower, hedge trimmer, various tools, etc.)

Good deal 👍

Wait, there are homes going for under asking??? Where are these homes, Siberia?

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