Asked by Tiffany, Florida • Mon Jan 26, 2009
I have tried doing my research, I have found out that there is one loan on the property but its from the HOA and its very minimal$ 425 in fees. I got the records of the foreclosure. The prior owner owes the bank $233,409 (all fee's included) the Listing is for $225,000. The house was first listed for sale in march of 2008 for $419,00 was relisted 8 times in price to $369,000 ending the short sale period I am assuming. The property went up for Auction via court hearing on August 5th 2008. At that time the price remained the same and finally dropped to $225,900 in November. I saw the property It does need a lot of work and I would not consider it for the purchase price of $225,00, based on the condition it is in now. I would however be happy offering a max of $175,000. Prices on homes comparable range from 275 and upwards but again those homes are updated and ready to sell. I just need to know how to read the documents to submit a low ball park offer. What the trick? Thank you 8)
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