LMAO, we gotta hear the story to this one
Here's the short version. I buy and sell anything including houses. Lady calls and says she heard I bought houses. I said I'm not interested. She calls every week for about a month and a half, finally almost begging me to come look at it. I agree.
1800 sq ft, 4br, 1 bath, vinyl & brick, hardwood floors with a 3 year old 30 year roof with full basement in decent neighborhood. She grew up in the house and her parents passed 8 years ago and it's been vacant since. I spent about an hour picking everything in the house apart down to the possibility of aluminum wire and lead paint.
She said to make her an offer, so I asked what she wanted. She said that she wanted to get out from under the $1200 taxes and thought the house was worth about $60k. I did some quick math and told her what I thought it would cost to get the house back to where it should be and I did not want to put that much into it. She kept telling me to just make an offer, so I did...$5,000. I figured it's piss her off and I'd never hear from her again. I didn't want the house.
She said she would think about it. The next day she called and accepted. Quick closing cost me $250. Told her to meet me at the bank and I'd pay her. While I was counting the money out at the bank I asked if she was going to pay the taxes since she had owned the house most of the year. It caught her off guard and she agreed. I followed her to city hall and watched her pay the taxes.
I had my crew go in, replace 18 windows, furnace, paint, some plumbing, rebuild back porch, refinish floors and add a half bath. I was in at just under $15k in 2 months. Appraisal came in at $62,500. Have a signed contract already for $55,500.
If someone is asking a lot more than I think I am willing to pay, I will low ball expecting a counter to come back at a more realistic price and figure it out from there. I would have gone $20k but she just wanted out.