Property Q&A in Knoxville>Question Details

Cody Goodman, Home Buyer in Knoxville, TN

Would the owner take 75?

Asked by Cody Goodman, Knoxville, TN Mon Aug 12, 2013

This question was asked from this property:…

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I do not make the final decision, that is up to the seller, but I would think that $75,000 would be acceptable depending on the terms. Contact your realtor and have them submit an offer. Please be mindful that all offers require a proof of funds or a pre-qualification letter to be review by the seller.

If you need additional assistance, please feel free to contact me.

Gina Grah
Realty III, Inc.
0 votes Thank Flag Link Tue Aug 13, 2013
First are you paying cash or will you need a mortgage? If a mortgage will you need assistance for your closing costs? This is a Bank Owned property has been on the market for 445 days and is being sold as is with a "special warranty deed". A special warranty deed is a deed in which the seller warrants or guarantees the title only against defects arising during the period of his or her tenure or ownership of the property. The grantor makes no warranty against defects existing before the time of his or her ownership. Investopedia explains 'Special Warranty Deed'
A special warranty deed is less protective to the buyer than a general warranty deed. The grantor of a special warranty deed conveys the property with two warranties: that he or she received the title to the property; and, that the property was not encumbered during his or her ownership. The grantor of a special warranty deed warrants the title only against his or her own omissions and/or defects, and warrants nothing pertaining to the title prior to his or her possession.

Steve Albin 865-235-1520
0 votes Thank Flag Link Tue Aug 13, 2013
Hi Cody,
I'd be glad to ask the listing agent for you first thing in the morning. Please give me a call in the morning if you are serious about finding a home in the area, as I would need to get ahold of you regarding what the agent says. I look forward to working with you.

Shane Taylor
Agent w/Keller Williams
0 votes Thank Flag Link Mon Aug 12, 2013

This is a bank foreclosure. $75K could very well be a fair offer. It has been on the market 44 days and has had $10K in price reductions during this time.

Here to help!

Warmest regards,

Adelina Rotar
Keller Williams Realty
0 votes Thank Flag Link Mon Aug 12, 2013
Offering within 5% of the asking price is usually a fair offer. I'd be happy to assist you with running comps, writing and negotiating an offer for you. Please contact me if I can be of assistance.
Kathryn Burklund, Realtor
Coldwell Banker Wallace & Wallace
0 votes Thank Flag Link Mon Aug 12, 2013
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