is the price listed on here on a foreclosure the bottom line price? Also can foreclosures be purchased on a FHA loan?

Asked by Waltersmomma, Sunset Beach, NC Wed Jul 31, 2013

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Mike Costello, Agent, Myrtle Beach, SC
Wed Jul 31, 2013
Dear Walter,

You will never know what the bottom line price is. The best you can do is submit an offer and wee if they accept it. An offer can generally be negotiated from there.

Yes, foreclosures can be purchased with an FHA loan.

Please give me a call or send me an email and I will email you a list of the foreclosures in our area.

Thank you,
Michael J. Costello
Broker/Owner
Sea and Sand Realty
Myrtle Beach, SC.
(843) 333-1059
seaandsandrealty@gmail.com
http://www.seaandsandrealty.com
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Ron Thomas, Agent, Fresno, CA
Wed Jul 31, 2013
The "bottom line price" for a Bank, is as confidential, (maybe more so) as it is for a normal sale:
Would you disclose your "bottom line price".
You will probably find that the Bank's BLP is somewhere around Market Value; you can find out what Market Value is by enlisting the air of a Reator in doing a CMA.
If the Market Value is within your reach; then you will have your answer.

Yes! FHA can be used to purchase some REOs: The problem is, that FHA inspections are rather stringent and if the house has some problems....
Well, talk to your Realtor.
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