What is a good negotiating price for a home that has been sitting empty for about a year and it is not livable needs minimum $25K in work?

Asked by Blndlizzie, Lockport, IL Thu Mar 29, 2012

It also has mold in part of the home where there was water seapage into the house which the realtor does not seem to be aware of. How do I go about this?

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Suzanne Hami…, Agent, Orland Park, IL
Fri Mar 30, 2012
There are too many factors in negotiating a price to provide any information with no information. The best advice I have is find out what market value for the home is now and when the repairs are done and consider what you want to pay. Then offer according to how much you want the home.

Also, you will need to see if you will qualify for a 203k fha loan or cash or at least 10-20% downpayment as FHA will not loan on such a home.

If you saw the home with a Realtor, you should ask their opinion, as they should present the offer. If you are not working with anyone, I would encourage you to get representation to protect your interests.
I know this area very well and can offer some perspective.

Suzanne Hamilton
RE Marketing Consultants, Inc.
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