Nicole asked: If a house is on the market as a forclosure will the bank consider a lower offer? or is their asking price what they expect to get? Thanks
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Karen Other - Home & Garden Asking Price, Forclosure, Foreclosures
It’s a house out of foreclosure. It sold for 43k in 2004, and it hasn’t been on the market (this time around) for very long. The asking price is 12k. The realtor said that it is “priced accordingly”, does that mean a crap load of work needs done to it since it last sold for 43k? Or does that mean that’s how much the bank wants to pay it off? The realtor said that the price is still negotiable.
*The realtor did tell me that the people that lived in it stripped out the copper pipes underneath the house.
Does “accordingly” mean that I will have to spend 30k to fix it? Since the last appraisal was 43k?
Karen Renting & Real Estate Asking Price, Copper Pipes, Crap Load, House Foreclosure, People, Realtor