So I’m a first time home buyer looking at houses to buy and my realtor just made me feel really stupid and bad. :/ which I guess I can understand why but, the way they said it was kind of unnecessary and rude.
Anyways, the story is that there was a house we were seeing for 150k and it was def a fixer upper. Like you could tell there was water damage, some sidings and floor was warped, etc. The layout of a part of the house also does not make sense and we would redo that. Basically, it was pretty bad and we all deemed it a fixer upper. After looking at the house, I thought okay this house is def not worth 150k. I could do 105-110k with this tho. Later, our realtor provided us a full inspection report from another buyer that recently did it. (Are they allowed/supposed to do this? Thought it was odd) After my SO and I read it over, there turned out to be way much more problems than we saw such as water damage from the roof that went to the attic down to the basement, mold, wood rot, termites, etc. So, now we’re thinking okay well this is bad but we can still work with it if it’s cheap enough and our realtor said if we had any offers just throw it at her. So we said with this inspection report, we would only offer 60k. She called me almost right after and said I was gonna text back “lmao” but decided to call you instead. So I’m like….. oh. We started talking about my offer and she said that they’re not gonna even look at it. It’s a joke. Comps in the area for this type of house is 150k-170k and the lowest in the area for this type of house is 145k. You should just forget about it.
So, my question is when looking at comps, do you usually compare houses with the same features including condition or without? I understood that houses in the area went for that much but I just don’t believe that they would still go for that much with that much repairs needed to be done.
Not gonna lie, I feel pretty dispirited after that. I know mistakes and stupid things were gonna happen since I’m new and still learning but that really discouraged me from seeing more houses for a while. So any help or advice would be greatly appreciated!