Sammie,
The listing time is not necessarily the time on the market because a contract may have been in play and could have fallen through. It is never too early to negotiate. Look at three more homes which recently came on the market in the same development to get a sense of the market and make an offer.
It is not good to use all of your buying power on an "as is" foreclosure because you may want to do a fha 203k loan and incorporate the repairs (up to $35K on a streamline) into the loan.
Trying to second guess the seller's mindset is a waste of time because someone else may scoop up the house while you are coming up with a strategy. The only way to find out is to make make an offer, subject to satisfactory inspection with a walkaway clause, which will protect you if something serious is found by the home inspector that you can not deal with even if the bank is willing to make the repairs.
Walter Joiner, Realtor Salesperson
Re/Max Professionals
6321 Greenbelt Rd
College Park, MD 20740
Office: 301-474-2400
Cell: 202-390-4716
Fax: 202-683-6064
EMail: waltjoiner@mris.com
Website:
http://www.2hdb.com/waltjoiner - Sat Mar 19, 2011
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