I am planning to make an offer for a house.
It is a short sale. I have bought foreclosure property before, but not a short sale.
Seller disclosure says that they have built a bedroom in the garage without permission from Homeowner association. I saw the house & found that the garage door remains closed and there is no way anyone would know about it. Will this be a problem if I purchase the house? (Making me nervous). Worst case, we can tear it down, but the bedroom has A/c, electric wiring etc and is really nice.
When my agent called, the listing agent said there is an offer already and he wouldn’t let us see the house. (house was on the market just for 1 day) So I called the listing agent directly. He showed me the house himself and has written up an offer for me. He wants to be intermediary and pocket the full 6% commission. That is fine with me, but I didn’t like the fact that he refused to show the house first time.
I had made offers on similar house in same neighborhood and did not get any.
House is really in good condition (year 2006) and may be rented for $1200-1250, maybe more (extra bedroom?) giving positive cash flow.
I made offer asking for 10 day option period for $10 fee just to be on a safer side.
Considering the above do you think I should pursue the offer?
Thanks in advance.