FSBO Fixer Upper - Negotiations and counteroffer advice?

Question

Thanks in advance for all your knowledge! I tried searching for a similar topic, but was unable to find anything...

I'm doing a FSBO for a fixer-upper. Priced at what I think is fair (well below retail and taking into account 100k worth of repairs and updates), and the first buyer offer came in very low. Glad to have now gotten a baseline, and ready to negotiate. But there are a number of concessions I could offer, such as replace roof or HVAC. Or perhaps cover some of the closing costs? Not sure what the best strategy is. There is a minimum on the home's price I'm willing to go, so I'm also prepared to walk away from the offer if the buyer can't meet it. While the market is hot here in Charlotte, NC I'm in no timeframe to sell the property and can very well sit out this selling season until next year.

Jonathan Minerick · Answer

It sounds like the place will sell to an investor who will be doing their own work prior to reselling. Doing any amount of work on the property may not be a good decision, as the investor will likely have their own team that can do the same work at a lower cost than what you would pay for it. FSBO can be difficult due to the limited exposure. Consider a flat fee MLS listing (~$100-$200), which gets you on the MLS and all major websites.

Jennifer Kirk · Answer

Thanks for the recommendation, Jon! I've actually done exactly as you said, and it's been on MLS for about 12 days now. Good advice on holding off on any work. I've overestimated the market value relative to the amount of work needed, and will likely to have to bring down the price. Haven't had many showings thus far...