Don't worry about fairness. That's not a consideration.
Have an agent run a CMA on the property to determine what it's really worth in today's market, in its present condition. Then pay no more than that figure. Perhaps offer less; your agent can advise you on that.
But don't get misled or diverted by concerns about "fairness," whether that's applicable to you, the seller, or some vague concept.
Hope that helps.... more
Have you heard of NACA. Go to www.NACA.com They work with and have programs available for persons with low credit scores. They are in Columbus Saturday for a free home buying/counseling program. Please contact me for any assistance. Thanks... more