DIYbanter - View Single Post - For Sale By Owner

(books) wrote in message . com...
(Harry K) wrote in message . com...
(brotherjohn) wrote in message . com...
After several months of not finding a house that I want, I find one
that is for sale by owner. I have never bought a house under these
circumstances and wondered what suggestions OP's on this list might
have on how to proceed here.

What is the first step?

I noted right off that the house is (IMO) $3,000 over what most houses
in the area are selling for plus the roof is in need of replacement.
The seller was open on the issue of the roof, so I feel they are
expecting the negotiation on that point, but should a roofer be
consulted on replacement cost?

Should I get an appraisal and/or home inspection and let that speak on
the matter of the roof and whatever else may be an issue in price or
should I go ahead and approach the seller on price.

What role does the bank play? Do they require an appraisal?

At what point should I get an attorney involved?

Thanks for any help.

So the house is priced $3,000 over market and needs a new roof? Clue,
it isn't $3,000 over market it is about $8,000 over market allowing
$5,000 to re-roof it. There are probably a lot of other problems that
need repair. Sounds like a disaster in the making. I for sure would
get a really good house inspection before making a serious offer.

Harry K

If all other houses that have sold in the area were in need of a roof,
he is 3,000 over market.

And if pigs had wings they still couldn't fly

Harry K