First time home buyer looking for advice on terms and conditions
October 14, 2008 9:08 PM Subscribe
Just about to make our first ever offer on a house and need advice on terms...help? (lots more detail in click)
posted by Kickstart70 to home & garden (10 answers total) 4 users marked this as a favorite
Rural beauty, small town, 1215sqft, 4.94 acres (1 acre cleared), dead end street, decent shape but 22 years old, needs a little non-structural work (deck plywood) but otherwise seems good. Dual furnaces, one oil and one wood, use the same ducting system with individual blowers and thermostats. Fridge, stove, dishwasher, washer, dryer, blinds, valances, fixed mirrors, blah blah blah included. Kitchen recently redone. Carpets and walls in great shape (not thrilled about the wall colours however). Decent landscaping (better than most in the area). Shallow well. Septic lagoon (legal). Two sheds of little or no value. Metal roofing.
Seller is leaving because they need more space. They are asking $169k, originally was $179k. One previous offer, which fell through because buyer could not arrange financing.
We will be getting a house inspection and a well test. A previous home inspection 4 years ago also detailed a few problems and recommendations (doubling floor joists, re-aligning siding, adding additional structural support to roof peak).
Bank says no real problems in us getting a mortgage (though it was close...admittedly because they are being restrictive in the current financial climate.
So...given all that we are thinking of offering $155k and requiring all firewood on site left behind (perhaps enough for this winter). What else should we ask for?
Specifically, we can ask for other things to be left in place, though I don't know what those would really be. We could accept if they refuse to leave other things behind if they don't try to keep too close to their asking price. What are our big risks, given the above info?
Any other suggestions?