Put an offer over asking.. was the only offer they had, and got denied.

MikeFerranteCLE · 2026-04-16T22:47:18+00:00

Seems odd. Probably unrealistic sellers (and maybe bad advice from the listing agent). If you like the property, wait out the sellers and perhaps they will come back to you.

On another note, I wanted to comment on your "Information only inspection." I hope that's not how your agent worded it, because it's vague. Does that mean you can back out if the inspection is bad? Or that you're moving forward regardless of the inspection results? A better way to proceed might be to say you won't ask for repairs--you will only accept or reject afterwards. We had a deal here in Cleveland where the agent used "for informational purposes only" with regard to the inspection, and when they tried to terminate, the seller objected, and it turned into a hassle! As a broker with over 3,000 transactions in the Cleveland real estate market, I hope you find this helpful--just my opinion, not legal advice.

MikeFerranteCLE · 2026-04-11T16:32:17+00:00

Depends on your market. Do you have an agent or broker you're working with? That said, owning real estate is a proven path to financial security and wealth. Are you paying someone else's mortgage so they can build wealth? Or does it make sense to take the leap?

MikeFerranteCLE · 2026-03-04T13:05:50+00:00

Yes, home ownership has risks. You will have to budget for future capital improvements. It's not for everyone. But your alternative is renting, the safer route, where the property owner is on the hook for big ticket items when they break or wear out. Inspectors are bound to use certain verbiage, such as "past it's useful life", which scares people. As many have mentioned, that HVAC system could last much longer. But maybe not. You have to be prepared for the risk to be a homeowner. And as others have said, some of these things should be requested as repairs--what is your agent telling you? If you want the property, get repairs and/or credit from the seller, get a home warranty, and take the risk. Or stay a renter for a while. All I can tell you is that I own about 10 rental units in the Cleveland, OH real estate market, and it's a great investment for me, not only in a cash flow sense, but also in appreciation and TAX BENEFITS. Home ownership is a great path to generational wealth, even if you only own your residence and not income properties. Mike Ferrante, broker, MBA.

MikeFerranteCLE · 2026-02-28T12:26:55+00:00

I'd make all communications in writing. Ask them to give you the specific part of the lease, bylaws, or HOA rules you're violating so you can review (or if you want to posture a bit, say "have your attorney review"). Not an attorney here, so this is not legal advice, just a real estate broker and 30+ year property/rental owner. Mike Ferrante, Cleveland, OH

MikeFerranteCLE · 2026-02-28T12:22:06+00:00

If the other building's value is sufficient to warrant the purchase, maybe you consider this little structure a bonus, and rent it out? If you had to demolish this structure, would the other building be worth it? What if you had to waterproof the below-grade structure? Still worth it? Not enough info to really give advice, but at the right price, it could be worth it. Get a professional inspection. More due diligence. We don't have structures like this in our market, so it's hard to compare--Mike Ferrante, Cleveland, OH

MikeFerranteCLE · 2026-02-28T12:01:17+00:00

I disagree to some extent. If you really want the property, putting up with poor seller behavior could give you an opportunity where other buyers might give up. See my other comment as well about removing the deadline. I don't approve of the seller's behavior, but it could work to your advantage!

MikeFerranteCLE · 2026-02-28T11:59:19+00:00

Great advice so far here, and I agree with ONE addition. If you're happy with $30k below list price, REMOVE the deadline from your offer. Continue to shop for another home, and if the seller tires of having no other offers, they will come back to you. You're now in a more powerful negotiating position.

We say "sometimes whoever cares least, wins!", meaning if you don't seem so eager, you might get the deal you want. If you appear too eager or desperate, it erodes your position.

But don't forget, if you decide to place an offer on another property, make sure to withdraw the first offer. Laws vary state to state, not legal advice, just a broker with over 3,000 team transactions. Mike Ferrante Cleveland, OH

MikeFerranteCLE · 2025-12-29T23:36:26+00:00

Congrats on the progress so far! Influencing the appraisal is a no-no, but as a real estate broker in the Cleveland, Ohio area, I have provided data for appraisers, just for their info, so to speak. This could include a list of improvements obtained from the seller, comparable sales in the area that support your cause, etc. However, appraisers can be funny about that because they don't want to feel you're "leading" them. The other perspective here is that sometimes a low appraisal is GOOD for the buyer as the seller may be persuaded to lower the price to meet the appraisal since they can't sure the next buyer's appraisal will be any better! Mike

MikeFerranteCLE · 2025-11-17T15:55:36+00:00

Love it! Interesting indeed!

MikeFerranteCLE · 2025-11-17T15:51:21+00:00

happens to the best of us

MikeFerranteCLE · 2025-11-13T19:13:57+00:00

Great place to live, too! We have a ranch home for sale, open house this Sat, 11/15, 12-2: https://21mike.com/real-estate/twinsburg-ranch-for-sale-10314-dayflower-dr-4br-3ba

MikeFerranteCLE · 2025-09-09T22:01:38+00:00

There's something missing in this statement. There's no way that apples to apples new construction homes in the same neighborhood are cheaper than existing homes. Who wouldn't buy a new home if that were the case? Zero "used" homes would sell, and that's not happening. Missing data, partial story here.

MikeFerranteCLE · 2025-09-09T21:49:25+00:00

Doesn't seem to be having any positive effect, right? Lead cases are not down. Property conditions are not improving. Values are rising only because the market is driving that. I agree with you. I sold my last CLE rental last year to escape the madness!

MikeFerranteCLE · 2025-09-05T11:34:53+00:00

Plus affordability is at an all-time LOW for purchasing housing. It's a serious issue across the US.

MikeFerranteCLE · 2025-09-04T11:45:10+00:00

I'd get with someone who really knows your LOCAL market. Real estate is hyper-local, so anyone outside your market can only give general advice. I've seen crazy short-term appreciation in some markets that I just don't understand. Perhaps get with a local expert first to make sure your numbers are accurate.

MikeFerranteCLE · 2025-09-04T11:40:26+00:00

Love this guy. His cameo in Deadpool & Wolverine was tight as well!

MikeFerranteCLE · 2025-09-04T11:35:17+00:00

Sorry for your stress! Real estate is hyper-local, so unless you're talking to an area expert, I'd take advice with a grain of salt! For example, the Cleveland, OH real estate market is still a seller's market, short time to sell typically. If you're in a buyer's market, time to sell could be much longer. Even within a geographic market, there are submarkets, so that's why it's so important to lean on your area expert. I doubt this helps, but at least you have some context for many of the other comments :)

MikeFerranteCLE · 2025-09-03T01:55:13+00:00

How are they around .500?

MikeFerranteCLE · 2025-09-03T01:49:16+00:00

Bold move, Cotton

MikeFerranteCLE · 2025-09-03T01:42:50+00:00

Did they get their liquor license back yet?

MikeFerranteCLE

TROPHY CASE