In Denver, the smallest 2 bedroom, 1 bath home would have multiple offers and a bidding war at this price. Check with your Buyer's Agent to advise you in your market.
Robert McGuire ASR
Your Castle Real Estate
Direct - 303-669-1246
If the home is priced $5,000 over current market value, your Realtor will likely recommend that you offer $5,000 less than the current list price, or that you require the seller to make the necessary repairs as part of the 'Inspection Resolution' process.
Lastly, there are loan programs that allow home buyers to borrow additional funds for remodeling a home after the purchase. Those programs have specific requirements and limitations. You should talk to your lender about those options.
Best of luck!
You can not get money at the table, as it is considered an "incentive to buy" which is not allowed. You can however, roll in the costs to repair the property in a 203k loan program. With this program you can replace the flooring, paint, get new appliances, furnace, etc and the amount is rolled into your loan amount. It does require a licensed contractor or GC make the repairs; it is similar to a construction loan, where you have draws and a final inspection is required before you can move in.
If you would like to discuss this, please feel free to call, text or email me. 720-333-5363 or ColleenLMullins@yahoo.com
A La Carte Real Estate Services
If you are in the Metro Denver CO area feel free to contact us any time with all of your real estate needs.
You desperately need an excellent "Buyers Agent" who can advise you on the market conditions, values, owner motivation and so on. These are the things you need to know in order to make an offer that has hope of being accepted by the owner.
I hope this helps, feel free to reach out to me with any questions.
Keller Williams Advantage Realty
Direct Line: 303-578-0741