Bidding on foreclosures...what ummMe again w/ another question...I just was shown a phenomenal foreclosure prop that is extremely cheap. Less than $25K.I like the lot & the house a lot.Solid & needs only cosmetic work.Plus, the prop is valued at 4X the asking price.I am pursuing a residence too, this would be a rental/investment prop.I am not finding much online or in books, guess I should've looked it up here( but I'm already writing this so up it goes)!In Tennesssee 'Fc's' are non-judicial...My agent suggested putting in the minimum maybe a little more.I realize there are a lot of variables.I'm leaning towards putting 15% more than asking price...Any pointers and advice is much appreciated! ThanksJuly 16 2010 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.