Asked by Warren, Philadelphia, PA • Tue Dec 16, 2008
I'm looking into buying a house that is a not yet completed new construction town house. It appears from the info that I've gotten, during the construction of the home the construction company fell behind 3 payments and the bank foreclosed the property. I don't know if it's the same construciton company working on the property but it would seem that all construction has stopped, and work will resume once a contract is locked in.
The property price is already 2/3 of the original price if the property wasn't foreclosed. My question is, how much room of negotiations do I have to lower the price, or at least have the bank cover the closing costs?
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