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How much should I offer for this foreclosed home?

How much to offer on a foreclosed home?

  • I'm currently looking @ a foreclosed home in Conway,SC. The home was built in 1938, it is 3300 sqft 4br 3ba 2 story home. The house is located in a very popular location in downtown Conway. Since the home is old is does not have central heat & air, it has two window units and electric baseboard heat. Which we will need to have a central heat & air unit installed. Also the the inside still looks like the 1930's there will need to be some updating done. We have not had any structural inspections done yet. If the structure is good we would like to make an offer, but don't know were to start on an offer. Please advise??

  • Answer:

    There are so many factors to consider. But the sites below may be helpful to you. I would take particular note of the fact that recent sales in that area have come in about $65/sq.ft. The condition of the house could bring that down; though the location could affect it either way depending upon desirability. Even as a buyer, you should have your own real estate agent who should be able to advise you in this matter.

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There are so many factors to consider. But the sites below may be helpful to you. I would take particular note of the fact that recent sales in that area have come in about $65/sq.ft. The condition of the house could bring that down; though the location could affect it either way depending upon desirability. Even as a buyer, you should have your own real estate agent who should be able to advise you in this matter.

Tom K

Your realtor is the best one to answer this information. They will compare home prices in the area and take into account the items you mention: - if properities in this area doo not have central heat or air = that probably does not change the price (i.e. meaning it's a nice to have but it doesn't change the price). - the same with the era of the house - if people in the area like for that homes to maintain the era's integrety updating it will decrease the value, not increase the value. Most people do not pay for an inspection unless their offer has been accepted. The offer will include verbage about passing the inspection.

A Hunch

Your realtor is the best one to answer this information. They will compare home prices in the area and take into account the items you mention: - if properities in this area doo not have central heat or air = that probably does not change the price (i.e. meaning it's a nice to have but it doesn't change the price). - the same with the era of the house - if people in the area like for that homes to maintain the era's integrety updating it will decrease the value, not increase the value. Most people do not pay for an inspection unless their offer has been accepted. The offer will include verbage about passing the inspection.

A Hunch

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