Is this a bad deal?

[Danielle McClelland]

I’d like your opinions. My husband and I are considering a rental condo that’s in a prime location in the small city we live in. It’s listed for 110K, decreased from 112.5K. The owner still has an original loan value amount of 12K after owning the property since 2006. Condos in this neighborhood have sold for 89-98K this year. We‘d lIke to offer in the mid 90K range but wonder If the seller would even consider the offer. A couple of questions.... What would be the highest offer we should give in your opinion - 100K? How does the seller still owe that much when they’ve owned it for so long? Is there a way to strategically structure this deal in a way that is a win-win for both parties? Thanks! D