There's more factors involved.
You need to speak with an experienced lender.
I work with a great one
Please feel free to call or email me.
Realtor/Coldwell Banker... more
First of all, what the sellers paid 3 years ago has nothing to do with the value today! Maybe they underpaid then. Analyzing the comps is your best method of determining value. If truly comarable condos in the area are going for the mid 600,000s, you should offer in the low to mid 600,000s.
Do you have your own agent? If not, find someone right away who can advise you properly. If the sellers of this property won't budge, find another condo. There are plenty on the market today.
The price per sq ft depends on which part of West Hollywood you're looking at, as well as the condition and finishes of the particular condo. The calibre of the building also determines the price per sq foot.
Please let me know the buildings you're considering and I can give you a more accurate number.... more
Have you considered purchasing a home therefore you don't concerns "dumping your money" , receive annual tax benefits. CA, might offer great opp's for you purchase a home.
IN SOME states due to number of foreclosures bank are leasing homes vs. other states such as Texas foreclosures are not leased.
Realtor would be happy to assist you
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors