11 Jul As a 1st time homebuyer, am I making unreasonable requests? Issues with Seller
Just need some general guidance on some odd issues we have had with the seller. I do not want to be a difficult buyer and sometimes the fact that the process is like a game of telephone is maddening.
We found a home we absolutely loved but at first it was overpriced for the area by about 30k. We decided that we wouldn't do a tour because it was overpriced and looked elsewhere.
Then it dropped about 12k and we thought maybe it would be worth that extra 12k to us since we were not looking to move for at least 10 years. The bones of the house was great but it hadn't been updated with appliances or other things since 2000. Our realtor said we should bid what it was worth to us and we did end up bidding under at 150k. The seller counter offered by reducing it 100 dollars. We counter offered again 155k, which our realtor thinks is about 10 over current resell value for the town we are in. The seller didnt reply so we decided to move on.
Then 2 weeks ago the house was dropped to 154k. We were confused why he wouldnt just accept the offer we gave that was higher then that but we resubmitted the 155k offer anyway.
Now the house has been on the market for 3 months. They have received no other offers. When we went to the open house only 3 people showed up and none of those people were interested at all.
The buyer ended up accepting the offer and we were very happy about it, doing our inspection ASAP to get the ball moving.
The inspection had 3 major issues that would need to be repaired at least shortly after closing, partial roof, updating electrical (old house), and the air conditioner does not work. These are all things he had disclosed as being great and up to date but what he said was completely inaccurate.
Because the seller moved out of state and is no longer in the house we did not ask him to repair anything, just asked him to cover our 5k in closing costs so we can use that money to repair. He has not yet replied to this but I do not want to seem unreasonable. We really want the house but that extra 5k would be needed to make sure there were no safety concerns and since the information he gave was inaccurate our realtor thinks he may just accept it.
So what does everyone else think? Am I being an unreasonable buyer? I am sure he is offended because we originally bid below asking but even his seller had told him the house was not worth what he wanted for it.