want to make an offer on a fabulous house in boston edison neighborhood

Asked by John Thompson, Seattle, WA Sat Mar 1, 2008

It is 12000 sq feet and the asking price is $899,000. It has been on the market 2 years. The neighborhood is historic, and there are lots of great houses. But their cost per squre ft is much, much lower. The house is in good condition, but the area is not uniformly maintained. What would be a good offer, and how can I justify it to the owner, who seems rather pretentious, and somewhat evasive. The agent said the neighborhood was " ethnically diverse", the stats say it is 85% african-american. I would be the minority.

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smith3gary, Agent, White Lake, MI
Sun Mar 2, 2008
John, Because you've already viewed the home and spoken to the agent you may not be able to have a Buyers Agent work for you on this home. This is one of the top errors home buyers make. Any Buyers Agent now would have to contend with Procuring Cause http://www.ired.com/news/2000/0008/moneysecret.htm

Purchasing a home must be a business decision, please take a moment to review some of the forms used in Michigan http://www.mi-living.com/index.cfm?pageid=1619 so you can make an informed decision.

The home looks wonderful and was originally priced at 975,000. Because this is a very unique home, comparable sales might be very difficult to find. Were you able to view the City of Detroit Inspection report required for any home being sold? I believe this must be less than 6 months old to be valid. There are two choices available, either the home seller must complete all repairs and pass inspection or the buyer must sign an Affidavid of Compliance and Responsibility (ACR) stating they swear to have repairs completed within 6 months. Who do you think should pay for any repairs to this house? How many items might not be up to current code in a 1915 home?
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Maureen Fran…, Agent, Birmingham, MI
Sat Mar 1, 2008

Do you have a Realtor? I mean your own buyer's agent. He or she should be able to make the case for you., but ultimately the seller gets to decide if he will or will not accept. Good comps will help.
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