should i make an offer?

**jennifer62** · 03-03-2009, 06:33 AM

a foreclosure has just come on the market where i live . it is selling for $94,900 , 1400 sq. ft 3bed 2bath . the neighborhood is good from what i can tell . this home previously sold for $144,000 in 2006 . should i make an offer on this home ? my daughter said something about equity could someone explain that to me?

**Bridget** · 03-03-2009, 08:05 AM

What is it worth? If its less than the amount owed, you'll need to short sale which all banks are accepting now. There are alot of foreclosures out there as well as bank owned properties. You can get a great deal, just need to do your homework

**BOSS** · 03-10-2009, 04:33 PM

Get it appraised again and make sure you are buying it below value now. I usually try to get about $10,0000-$15,000 less than what they are asking.

It usually meets about half way in.

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