My client would like to make a very low offer based on their observations, such as water seeping thru the cinder blocks. How do I word that on paper?

Asked by Dawn Ruete, Bridgewater, NJ Tue May 17, 2011

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7
Jeanne Feeni…, Agent, Basking Ridge, NJ
Wed May 18, 2011
Hi Dawn, I agree with others that have suggested keeping the rationale off of the contract - cover it verbally or in a cover letter, or better yet, present in person so you can deliver the message to the seller directly.

Assuming that the buyer will be seeking financing, documenting issues on the face of the contract may cause problems with the bank later.

Best,
Jeanne Feenick
Unwavering Commitment to Service
Web Reference:  http://www.feenick.com
2 votes
John Sacktig, Agent, New Jersey, NJ
Tue May 17, 2011
Not that this is an answer rather, but an observation of the situation from experience. Cinder blocks "weep" since they are a pourus material. If it is like niagra falls.. o.k.. but I don't think I have ever seen cinder blocks that have not let some water through.. like the white staining and such... I think it is easily corrected by the drainage outside the house.

But I know each situation is diffeent, but I think that due diligence on the part of the agent and buyer should be done before just making an offer.

I like Dawn's response: "I suggest including a cover letter with the offer stating that the offered price is based on water seepage issues that will need to be addressed."
2 votes
Ruth and Per…, Agent, Los Gatos, CA
Wed May 18, 2011
Hi Dawn:

A cover letter is the way to go. Prudent to present your offer face to face
or in the event you are sending it over call the Listing agent first and
prepare them for the offer.

Good to develop a rapport with the Listing agent.

Best regards
Perry
1 vote
Phil Rotondo, Agent, Melbourne, FL
Tue May 17, 2011
I wouldn't put it on paper. I'd let the listing agent know the rationale behind the low offer and see what the listing agent says. Then proceed accordingly.
Web Reference:  http://www.321property.com
1 vote
Laura Feghali, Agent, Stamford, CT
Tue May 17, 2011
Hello Dawn,
I suggest including a cover letter with the offer stating that the offered price is based on water seepage issues that will need to be addressed. Maybe the seller might be willing to perform repairs if the price is not acceptable.
Hope this helps.
Good luck!

Laura Feghali
Prudential Connecticut Realty
1 vote
David Burnham, , Washington, DC
Tue May 17, 2011
I would put it in the cover letter and say that the offer is based on the condition of the property and give examples.
1 vote
allan erps,A…, Agent, Pearl River, NY
Sat Oct 15, 2011
Accurately and to the point, however Sellers Agent may come back with a "that is why the house was priced so low" answer. Home inspector may give you a better understanding on how to fix and cost
0 votes
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