@babbles wrote:buyer offered 19k less than asking, 5k earnest(VA), paying their own closing costs with an inspection contingency
not a ton of supply, homes are on the market about 10 days before pending, home may appraise 10k over offer, any opinions?? I figured if accepted don't ask for any ridiculous reparirs if it's not major flaws?? thanks!
I guess it depends on you, is your asking price comparable to other homes in your area? If so, then I wouldn't accept.
I'm shopping in an area of limited supply as well; not a single unit in the community I'm trying to buy into has come on the market in the last six months, and then yesterday two virtually identical units popped up on the market. The first unit was priced at $499,900 and the second unit was priced at $434,900, a whopping $65,000 less! Even if the prices were equal my wife and I prefer the lower priced unit and expect a bidding war will dial up the ultimate selling prices of both to north of $500,000.
the offer is below market value but I was a thinking it was a play on any potential repairs, they'll say repairs need to be done but remember we are offering to pay our own closing costs 
was the home inspection already done? what type of major issues were found if you don't mind me asking?
@babbles wrote:the offer is below market value but I was a thinking it was a play on any potential repairs, they'll say repairs need to be done but remember we are offering to pay our own closing cost
was the home inspection already done? what type of major issues were found if you don't mind me asking?
I bought land, so there was no inspection. We're having an appraisal done, but it's not a contingency.
@iced wrote:
@babbles wrote:the offer is below market value but I was a thinking it was a play on any potential repairs, they'll say repairs need to be done but remember we are offering to pay our own closing cost
was the home inspection already done? what type of major issues were found if you don't mind me asking?
I bought land, so there was no inspection. We're having an appraisal done, but it's not a contingency.
Where we're looking to buy, any and all contingencies will immediately get your offer rejected.