A property on Hubzu, auction failing, how would u make an offer ?

[Bryan Wilhelm]

Good Monday Morning everyone! I see a property on Hubzu, (it is in Harrison TWP, MI, the only one in that town, feel free to view it, I'm not buying it). If I were ready to invest, I would be considering this property.

So, it is bank owned, and hubzu says it is occupied (maybe?), and says no not disturb the residents. My question is, how would you go about vetting this property and making an offer? You can't inspect it to see what repairs it might need, and you surely are not going to pay the $75,000 hubzu has it listed as. Would you just make a very low offer to the bank and anticipate 20-30k in repairs? It's ARV maybe is around 100k, I would guess. What would your offer be?

Are REO owned properties a good target for cash offers below thei auction price?