What to offer on this foreclosed bank home?What is an appropriate starting offer to place on this home? What is the maximum you would offer to pay on this home? It was up for sale back in November 2006 by the owner, then bank took it over and listed in April 2007 and was at $139,000 now dropped to $133,000. It has all galvanized plumbing, looks... | |
Sorry, no free appraisal here, that is why you need to hire your own.
However, keep in mind that all of the details that you have listed is NOT relevant when making an offer on a foreclosure. The bank simply plugs the numbers into a computer, and has already a percentage range of what they will take for it, if you "hit" that number, they will accept your offer, if it's low, they will hold onto it, and if it's high, of course, they will accept it.
Buying a foreclosure is not the same process as buying a resale home.
with soooo many homes on the market, WHY bother with this one? Surely there are others that you could purchase needing less work and still get a good price on. Otherwise, you would need to pay for an appraisal and make an offer from that....
