Skip to main content

Are foreclosure homes going above asking?

Long story short: wasn’t planning to purchase a house, I rent ($2k+ a month, yikes). Found a home listed on Zillow as a foreclosure listed at $159.9 asking.

Brought contractor with me to showing and there’s no structural issues, and could be move in ready (not my personal taste but to each their own). Realtor advising me to just wait for something else because seller won’t do repairs if inspection finds anything. I’m not really that scared about it (blind confidence lol)

My question is: it’s a bank owned foreclosure listed for sale, not a traditional online action so I don’t think I will be able to see other offers? I want to offer 10k below asking because I think that’s more in line with what it’s worth, especially with interest rates right now. However, I do want this house!! Lol

(It’s not that I don’t trust my realtor, it’s just always good to get other opinions & I think generally she doesn’t like foreclosure homes)

Anyone have any recent experiences with this type of foreclosure? Are they going above asking price? Below? Or just general advice haha

submitted by /u/Outrageous_Page_5552
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/174ko2d/are_foreclosure_homes_going_above_asking/
Labels:

Comments

Post a Comment

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more

How to Avoid Property Scams in Delhi?

Here’s What You Should Know! Commercial Real Estate (Non-Residential) Buying a property in Delhi can be tricky, especially with all the stories about scams and shady deals. If you're in the market, here are some tips to keep yourself safe:Double-check the documents: Always verify ownership and approvals. Don’t just take someone’s word for it—look at the actual papers. Do your homework on prices: Compare similar properties to avoid overpaying. A little research can save you from a bad deal. Work with trustworthy people: Whether it's a seller or an agent, go for someone who's transparent about pricing and the process. If they’re dodging questions, that’s a red flag. Ask for reviews or references: If someone you’re dealing with has a good track record, they won’t hesitate to share testimonials or connect you with previous clients. I’ve noticed that some property services have started focusing on things like verified listings and clear communication, which makes the whole proc...
Post a Comment
Read more