We don't know what the house is worth, but not every transaction has a lot of negotiation. Sometimes, it's a great deal as is, sometimes it's not. If I were your agent to buy the Mona Lisa for $100, I'd be pushing you, and not the trustees of the Louvre. Hard. I'd be beating you with a stick!
If you can find a better deal elsewhere, walk away. If you can't, then . . . maybe you should take it?
If you have questions that you don't feel your agent is giving you a straight answer to, you need to speak with their broker and find out more information. If you can't speak with their broker (or they are the broker), you may need to speak to a real estate attorney for some help.
Best of luck
B&B Realty Group - Keller Williams Elite Dallas TX
I can speak for myself: I have a discussion with my buyers about expectations. We discuss the market and how we need to go in and put offers in on properties.
On this specific property where does the value lie? Did you offer on the low end knowing it needed repairs or did you go in without having all the facts.
Are you financing the property or paying cash? Where you aware of the issues prior to putting your offer in or was this discovered during the inspection period. Is the property bank owned, traditional, short sale or flip.
All these can contribute to what you can and can not expect.
I would certainly discuss any issues with your agent. I'm sure as a Real Estate Professional they sat down with you and discussed the best strategy to achieve what you want on home purchase.
Hope that helps.
Real Estate Professional
Keller Williams Sonoran Living
Seller may insist on no repairs, but some lenders, especially FHA, may want some things done before they approve the loan. Typically the repairs may be safety/hazard issues. If that's the case with your purchase, the seller may choose NOT to repair, and in which case you may want to look at 203K type loans to finance the repairs, etc.
But think of the current market value of the property IF it is in good condition and how it compares to other properties in the neighborhood. Are you paying significantly less because of the condition of the property? Are you willing to undertake the costs as long as you get the property at a certain price?
Have an honest conversation with your realtor, and share your concerns. Nothing can be gained without clear communications between you. Don't let this doubt and dissatisfaction fester. Your realtor works for you....but you need to talk.
You are making the decisions, but holding your Agent responsible.
You did not go in to the Offer with all the facts; Condition, Repairs and Market Value.
There is no "normal" cost of repairs.
Your agent would probably go through the offer price and terms with you. If you made an offer, your offer has a price. After your inspections, if you have discovered that the cost of repairs is higher than what you would like to accept, you can request one of 3 things: (1)the seller to complete the repairs, (2) cancel and receive your earnest money back or (3)accept the property without the repairs.