If the property is being sold below market, it may be in below market condition.
A seller, selling below market is one who is most likely not willing/able to do any repairs.
If you have the funds to make repairs/improvements buying below market is a great idea.
If you are using FHA financing there could be an issue getting the loan funded, if the unit's condition does not meet their strict funding conditions.
Now ,priceing below market sometimes is a stadegy for getting a bidding war going...sometimes homes priced under market ultimately sale at market of pretty close to market.
Kawain Payne, Realtor