Posted by Patrick on April 09, 2006 at 22:59:43:
I am not expierenced or anything but from what I read and the one deal I have in the works now I wouldnt even give him a price. Make him give you a price and work him down from there. If you offer him 70k how are you going to feel if he would have been willing to go 50k?(that might be extreme but hey ya never know)even if he wants more then your willing to pay say youll take it and bring it under contract. Make sure your contract is subject to partner/inspector aproval. After you have it under contract get a buyer to tell you how much he will pay. Call back the seller and tell him your partner says your only willing to pay $xx or after inspection it will cost more then estimated to fix it. Of course Im not expierenced so dont take my word for it.