Offer Negotiation: Urgent guidance Needed
Hello Biggerpockets community
looking for guidance here we made a offer on a property at 260k with an escalation clause up to 290 k (Comps suggested value:290K). Seller came back and asked for appraisal guarantee we said no, so offer did not win. Offer made on 06 apr 2025 & rejected on 07 apr 2025.
Today 08 apr 2025 my realtor said the winning offer backed out since they cannot get into a unit until Thursday (10 Apr 2025) and seller is saying they will accept if we go with 285k with 5k appraisal guarantee and inspection need to be completed by end of day tomorrow (09 apr 2025).
This is our first investment property need guidance the seller is rushing things and my gut is suggesting red flags.
Looking for immediate guidance.
Note: the seller listed the property at 247K.
Thanks,