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Foreclosure offer in this market (US)

Found a foreclosure house that my husband and I really love and it’s in a great neighborhood. It hasn’t had any occupants for 10 years and has been in foreclosure since 2017. It needs a lot of work (probably 100-200k) and I know right now probably isn’t the best time but it just went on the market for 475 (sold in 2001 for 190…) but again a lot of work (giant hole in the ceiling, possible water damage, outdated and that’s just what we can see - bringing a contractor in Saturday).

They’re about to open it up to investors but is 400 too low? I know the banks can accept whatever but with what’s going on right now I feel like that’s not a bad offer? I just don’t know with everything going on if banks would expect investors to meet their price or not.

submitted by /u/bongo_bumz
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source https://www.reddit.com/r/RealEstate/comments/1jr5cqm/foreclosure_offer_in_this_market_us/

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