How much would I offer on a 180, 000 house
Submitted by pcromwell on Mon, 08/25/2008 - 8:41am.
that is in foreclosure and has been empty for the past 2 years?
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Comments:
I don't mean to sound glib, but "whatever you are willing to pay".
If you are willing to pay $180k, but are wondering if it might be worth trying a lower offer first, it would be really hard to say based on the info provided. For example, are others likely to make competing offers?
If you you want to buy the house and are looking to buy it low enough to flip for profit, then deduct sales costs, and the desired profit and start there. Some say 30% below, but I think it is too hard to generalize as costs like repairs can vary a great deal.
If you want to buy the house as a rental, then the question is how much rent will you get, and what kind of ROI do you expect.
Bottom line is that there are no hard and fast rules and it really depends on the situation.
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