Expert: Dottie Worthington - 2/6/2009

Question
If the house is selling for 86k and the tax value of the property is 80k, what would be a fair offer to make?  The house is in no visible need of repairs.  Of course, I know I need a home inspection since the house was built in 1959.  The house has its original two bathrooms and kitchen.  What kind of repairs would a house of this nature need and how much would I have to spend if it did need repairs?  It is a well-maintained house with no funny smells as some of the homes I've seen that were built in this period. I love this house and am just waiting for your response.  P.S., it has a brand new 30 year roof.

Answer
I am not sure where you are located, but in our area, the tax value is usually under the actual value of the home. As far as repairs, I hope your REALTOR advised you to get an inspection prior to purchase. Also the Sellers Disclosure should show anything that is wrong, the seller in Texas has to give one of those no matter if home is listed or not.