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Updated over 8 years ago on . Most recent reply

User Stats

48
Posts
12
Votes
George Temes
  • Investor/AZ Agent/Firefighter
  • Gilbert, AZ
12
Votes |
48
Posts

Sweeting my offer - need creative suggestions

George Temes
  • Investor/AZ Agent/Firefighter
  • Gilbert, AZ
Posted
I'm looking for creative suggestions on how to be the winning offer on a townhouse for my kid, next to ASU. There's a newer A/C, roof, and water heater, so it basically just needs paint, carpet, etc. I plan on holding it for at least 7 years, probably longer, until my high-schooler is also through college. It's an on-MLS 3/2/1, priced at $165, about $10K below an ARV-flip down the street. A few of the comps in the area sold for $5K over list. Obviously, I'd like to pay as little as possible, but it's one of the few on the market that meets our needs perfectly...and if I have to sweeten the deal a little to close, it'd be worth it. We were planning on using an FHA loan, but might consider paying cash as a leveraging tool, then refinancing after close. The seller is an elderly lady who's owned the property for 20 years, so she has 20 years worth of her stuff in the property. Not hoarding, but lotsa stuff. She has been paying on her $85K mortgage for 10 years. She fell a couple of weeks ago, and now wants to move to a supervised living situation, and shared with me that her daughter isn't much help. She seems like she's kinda on her own and doesn't have a plan to move or even her next place selected. Aside from getting the offer accepted, I want to really do right by her. TL/DR - My question is this: what might be the best way to sweeten the deal, given the circumstances? Offer over asking price? How much over? Flexible closing date? Moving allowance? Pay closing costs? Have my boy and his roommates actually help her pack and move? I'm a newbie realtor, and I can waive my 2.5% co-broke. All ideas appreciated!

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