Home Buying in Calumet City>Question Details

cphillipstho…, Home Buyer in Chicago, IL

if an investment group buys property at 33.5k what would they sell it to me for?

Asked by cphillipsthomas, Chicago, IL Mon Jun 24, 2013

driving in my old neighborhood ,and discovered the house we once owned (2006 it was 198k) is vacant again.Sold in 2007 at 113k , Just have to see what almost 10 years have done on the inside . I did a little research, it went into foreclosure in November and was bought from the bank last month for 33.5K….

if an investment group buys property at 33.5k what would they sell it to me for?

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When an investor sells property they first find out what it is worth in today's market in its current condition. They don't figure how much they paid for it as long as they sell it for more. If the value is $100k that is what they shoot for. I can tell you it won't do any good to offer $50k saying you know they paid $33k, I have had buyers do that before and it goes NO WHERE with a seller.
0 votes Thank Flag Link Mon Jun 24, 2013
i figured they want to make a profit, does other homes on the block matter...i know they have 1 for 50k across the street and another down the block 77k?
Flag Mon Jun 24, 2013
thanks Tim...how can i find out what the property is worth?
Flag Mon Jun 24, 2013
Regardless of what they paid for the property, an investment company is going to sell for as much as the market will allow. Market price based on the condition of the property is what they will be looking for.
0 votes Thank Flag Link Mon Jun 24, 2013
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