offer and counter offer

**oneofthecrowd** · 01-04-2009, 09:49 PM

My wife and I made an offer for a home and the owner (REO) countered less on closing costs and hasn't decided whether to fix the leaky roof or not. Everything else we offered was accepted. I was wondering whether to counter with "subject to inspection and roof repair"..? or will the inspection have any affect on the decision?

**jpoey** · 01-05-2009, 04:40 AM

yes and yes, wheres your agent?

**Mike Taylor** · 01-05-2009, 04:42 AM

Usually banks won't fix anything unless it is absolutely necessary for the loan. Did you not sign and/or understand an as-is disclosure?

**oneofthecrowd** · 01-05-2009, 07:23 AM

Yes, I understand the "as is" disclosure but my agent wrote in the offer to request a 2000 dollar payment for the roof repair including 6000 for closing costs. The bank countered saying it was going to get some bids of repair estimates for a lower repair cost.

**Codythebest** · 01-05-2009, 01:16 PM

Well, you're in good shape. You'll get your roof fixed hopefully and some $$ for closings. Seems you have an agent that understands the thing and works for you instead of his/her wallet...

**oneofthecrowd** · 01-05-2009, 06:32 PM

We have worked with four other agents (without signing an agreement) before this one but this is the only one who really offered to help us seriously so we signed an agreement with her. We only called the phone number on the sign at whatever house we were interested in in the same general area where we live. Now, this is why I'm trying to ask questions here to make sure I'm getting it done right as I know very little about real estate and never bought a home before. I'm not sure whether my agent is being completely "up front" on everything as it is her realty company that is representing the owner (bank owned).

I have made an appointment to have the home inspected this week before an agreement has been signed. My agent says it's OK. Is this right or should I wait until escrow? I'm just worried that there may be more wrong with the home than I can see (its fifty years old) and the electricity and water was turned off when my wife and I viewed the home. It has been on the market for three months.

Thank you for any advice.