Question Details

John Fils-ai…, Home Buyer in Chicago, IL

My wife and i are considering making an offer on a bank own foreclosed property listed at 315k. There are

Asked by John Fils-aime, Chicago, IL Sat Apr 4, 2009

some obvious problems with the house, all 3 bathrooms need to be completely redone and a few other major issues. What is a good offer on a house in that condition?

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You get a buyers agent to review condition and market conditions to assist you with identifying what you should offer. The banks try to list the properties with the condition taken into consideration. Banks have even been listing properties below market value to create activity. I am not sure about your market, but in mine, the foreclosures that are in good locations and in not bad condition are getting multiple offers! So if you like the home get a buyers agent and make the offer before the bank has a chance to get multiple offers. Good luck!
0 votes Thank Flag Link Sun Apr 5, 2009
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