LOOKING TO BUY 1ST HOME (POSS. A FORECLOSURE)- GA

[ANDY M.]

Hello all - I am in the process of selling a business (in which i live) and am planning on purchasing a home. The home is approx 18 - 24 months old - unlived in. there are approx 40-50 homes in the subdivision (the developer went broke) out of a poss. 125 ish home sites.

The homes i am looking at were orig. sold for approx low $400s - however these same homes are now selling for approx $380 as a foreclosed property. They have been on the mkt at this price for well over a yr.

If the sign out front reads foreclosure (and the relator continually says "make an offer - nobody is 'biting'") is that my green light to make a 'silly' offer?

as an example - based on the above ie vacant time, uncertain future of the division - would i be stupid to offer $500 for 2 homes if they are listed at $380?

i could use 2 homes ie folks in one and my family in the other - and at such a low price (low today at least!) i could always sell one or both if necess.