So I'm looking at buying my first home. I've got my eye on a house 1.5 mi away from my work that is listed for $129,900. I'm ready to make an offer but I have never done this before and don't know where to start. Tax value on the property is $116,000 but all tax values in this county were recently reduced. The house is in very good condition and has had a nice deck added and half of the basement has been finished. They are also leaving all of the kitchen appliances. Closing costs are going to be around $3800.
With that said I'm thinking of offering $126,000 and having them cover closing costs. Thought's or opinions? I'm really in the dark here. I don't have an agent and don't really want to bring one in now and have them make commission for simply submitting and offer since I found the house and viewed it myself.
The house has been on the market since Oct of 2013 and I know the sellers personally and they are moving into her parent's second home and are just waiting to sell this one. They are motivated and really want to sell it to me over anyone else, I'm just nervous about submitting the initial offer since I have no idea if what I have in mind is a good start.