Foreclosure houses in federal hill, Rhode Island.

Asked by Yujia Wei, Providence, RI Mon Jun 13, 2011

Hi everyone, I am looking at foreclosure houses right now. I saw this house in federal hill, Rhode Island. Its listing price is $89,000, I made an offer of $89,999, but my realtor told me that the people who are selling the house called her back and told her there are other offers. So my realtor asked me if that is the price I want to give or if I want to add more into the offer. I don't know, I am paying the full price in cash, so how much should I offer? Can anyone help me? the house was built in 1880s, it's not a historical house. The house doesn't really need a lot of work. Thanks for taking your time and reading my questions, best wishes to you and your family!

Thank you very much
Yujia Wei

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Kenneth Zink, Home Buyer, Vallejo, CA
Sun Jun 3, 2012
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Rose, Home Owner, Rhode Island
Fri Sep 30, 2011
Federal Hill is very desirable and unless it is that part of Knight St above Grove and below Atwells (which is awful) any of the foreclosure prices are way below value. Even if they need work, which all the foreclosures do, it's a steal. I bought a foreclosure and paid over asking by a large amount and still got a bargain.
It all boils down to how much you like the place and how badly you want it.
Do you want to Not get the place because someone else bid $5,000 more than you?
0 votes
Christopher…, Agent, Providence, RI
Mon Jun 13, 2011
Hi Yujia,

My advice is that you should either have 100% faith that your Realtor is acting in your best interest or you should find another Realtor who you do trust. Your should ask your Realtor to do a market analysis for the property if they haven't already.

Happy Hunting,
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