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How much should I offer for this foreclosed home?

If a home is foreclosed around $150000,Can i lowball a cash offer for about $110000?

  • Answer:

    You can, but banks don't really want to lose that much money. Banks like numbers, and you're talking about an offer 25% below the "value". So likely that wouldn't work. You might get it for $130-ish though (about 87%).

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You can offer 1 if you want but you will not get the house. The mortgage lender wants 150k and will hold out for a year if they have to

Go for it, you don't ask you don't get! In my experience mortgage companies don't hold out forever to get their money. They usually throw them in an auction after a couple of months on the market. A lot of banks etc have insurance policies that protect them against the difference they've lost. Us developers don't make our money giving full price, some you win and some you lose! Best of luck!

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