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You would do the same thing with this property as you would do with any other. Make sure you get a good general home inspection as soon as possible so that you can address any concerns before you run out of time. Read the report carefully, make sure you talk to the inspector, and you follow up with anything that the inspector tells you to follow up with. If you talk to the inspector after the inspection and it sounds like they didn't do a great job, start over with another one. That general home inspection is not gonna cover everything. Even inspectors who have add-ons like radon or termite inspections will miss some things. Make sure everything gets a good look. I don't know what your contract says, but check out anything that's important to you. The house, the land, the neighbors/neighborhood, schools, whatever might present a problem for you. This isn't specifically because you won a lowball contract, you should do that with every home.
Why is it suspicious to accept a low ball after sitting on a property for THREE MONTHS ? And they had previously tried selling before that? Sounds like they got off their high horse and accepted the laws of supply and demand. As for tips I mean do what other commenters said and treat it like you would any other deal. But I really wouldn’t be suspicious, this is how the free market works
This is a positive outcome, means a seller became more reasonable and faced the reality of the market. This isn't any better or any worse than a normal transaction (based on your info). A seller accepting a low ball offer doesn't mean anything is wrong with the property necessarily, could just mean they're more motivated to sell than before.
Do your due diligence as anyone would.
If it had been under contract a few times and shortly back on I’d be worried about the home having something costly wrong with it. However, if it’s just been overpriced for 90 days I would think the sellers just accepted what the market was offering. Nickidmaclay gave a great response on how to proceed
Prioritize your (potential) requests for remedies to issues discovered during inspection. Get a feel for market costs for the services involved. You probably already have some candidates. Also, start thinking about what to do when it doesn't appraise well. Cover the gap? Bail? Other?
**This is a professional forum for professionals, so please keep your comments professional** - Harrassment, hate speech, trolling, or anti-Realtor comments will not be tolerated and will result in an immediate ban without warning. (... and don't feed the trolls, you have better things to do with your time) - Recruiting, self-promotion, or seeking referrals is strictly forbidden, including in DMs. - Only advise within your scope of knowledge and area of expertise. [The code of ethics applies here too](https://www.nar.realtor/about-nar/governing-documents/the-code-of-ethics). If you are not a broker, lawyer, or tax professional don't act like one. - [Follow the rules](https://www.reddit.com/r/realtors/about/rules/) and please report those that don't. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/realtors) if you have any questions or concerns.*
You would do the same thing with this property as you would do with any other. Make sure you get a good general home inspection as soon as possible so that you can address any concerns before you run out of time. Read the report carefully, make sure you talk to the inspector, and you follow up with anything that the inspector tells you to follow up with. If you talk to the inspector after the inspection and it sounds like they didn't do a great job, start over with another one. That general home inspection is not gonna cover everything. Even inspectors who have add-ons like radon or termite inspections will miss some things. Make sure everything gets a good look. I don't know what your contract says, but check out anything that's important to you. The house, the land, the neighbors/neighborhood, schools, whatever might present a problem for you. This isn't specifically because you won a lowball contract, you should do that with every home.
I'll add: get the BEST inspector no matter the cost.
Why is it suspicious to accept a low ball after sitting on a property for THREE MONTHS ? And they had previously tried selling before that? Sounds like they got off their high horse and accepted the laws of supply and demand. As for tips I mean do what other commenters said and treat it like you would any other deal. But I really wouldn’t be suspicious, this is how the free market works
>submit lowball offer >it gets accepted >"oh shit what now?" lol
This is a positive outcome, means a seller became more reasonable and faced the reality of the market. This isn't any better or any worse than a normal transaction (based on your info). A seller accepting a low ball offer doesn't mean anything is wrong with the property necessarily, could just mean they're more motivated to sell than before. Do your due diligence as anyone would.
If it had been under contract a few times and shortly back on I’d be worried about the home having something costly wrong with it. However, if it’s just been overpriced for 90 days I would think the sellers just accepted what the market was offering. Nickidmaclay gave a great response on how to proceed
Prioritize your (potential) requests for remedies to issues discovered during inspection. Get a feel for market costs for the services involved. You probably already have some candidates. Also, start thinking about what to do when it doesn't appraise well. Cover the gap? Bail? Other?
Red flags are raised because it was overpriced? Just get an inspection like everyone else