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omg i love that house!!why cant i find something like that in d.c. lmao.so what happened mary??? i see the price dropped to 399!!!!
First off you should be working with a Buyer Broker not the Listing Agent who is representing the Seller. Do you really believe they are going to encourage you to put in an offer 25% less than asking price?You can put in any offer, though it seems unlikely you'll get the home at the price you want to pay any time soon. You're likely wasting your time and whatever Broker is willing to write the offer up for you.Have you actually looked over the home thoroughly? There is always a level of inherent risk in buying a foreclosure as you are buying "As-Is," Will you have money left after buying the home to take care of any needed repairs.Finally as someone who specializes in foreclosure sales and who works primarily as a Buyer Broker I'll let you in on how things work. This property's price will be automatically reduced every 30-45 days (depending on which bank owns it) until it's sold. A Buyer Broker can quickly tell you how long it's been on the market and you can then have a pretty good idea of when the first price drop will occur as well as each subsequent price drop. Perhaps if you're patient it will get down into your range, though there's always the chance that someone else will come along an buy it before then.My advice would be to focus on homes listed for no ore than $400,000 and not on homes $100,000 over what you can afford. Good luck.www.NCHomesbyLarryT.com
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