They knew spending the money was a gamble, but they needed to find out exactly what it would cost to put the house in livable condition before they wrote their offer. After the buyers got the inspection report back they shopped around for carpets, appliances, and materials, and they got bids for work they couldn’t do themselves. Click here to read more.. »
Tips on Making Offers on REOs Part (2)
It would be a great deal if you can get it for $230,000 because similar homes in the neighborhood are worth $290,000 to $320,000. However, the appliances are missing, including the hot water heater, three doors need replacing, the walls have extensive damage, and two windows are broken. In addition, the yard has gone native and needs restoring. Click here to read more.. »
Tips on Making Offers on REOs
Banks spend in excess of $20,000 to foreclose on a property. If they have to fix it up to make it saleable, the costs can go up dramatically. So, when you make an offer on an REO home, the bank will look at the costs that have been incurred and weigh the chances of getting a better deal in the near future. Click here to read more.. »
