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1. If the owners have only been there 2 years tax records will tell you what they paid and prices have not gone UP anywhere in 2 years. If anything they have gone down.
2.The price range you mention is toobroad. The comps are not apples to apples. You need to have your agent do a market analysis to see what other similar houses have been selling for.
2. Sometimes when a transfer occurs the company helps the seller out with moving/closing costs so do not be concerned what you offer is too low
3.I do not understand why you canot tell if theplace needs repairs. Usually repairs are pretty obvious, but sounds like you need an inspection, but you do notpend fo rthat or anything until you have an accepted contract otherwise you are potentially wasting your money.
4 If you are not using a real estate agent then you better use contact an attorney to help and do not sign ANYTHING until your attorney tells you to.
5. Every R E transaction requires the seller to give the buyer a Seller Disclosure where the seller answers 20+ questions about the condition of the property INCLUDING if it is in a flood zone and/or if they have had water iissues. An inspection can also tell you the answer.
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For Sale: $424,900
For Sale: $30,000
For Sale: $285,000