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Updated almost 6 years ago on . Most recent reply

User Stats

80
Posts
9
Votes
Matthew Koch
  • Investor
  • Twin Falls, ID
9
Votes |
80
Posts

Foreclosure info and understanding to confirm purchase abilty.

Matthew Koch
  • Investor
  • Twin Falls, ID
Posted

I would like to get some advice on whether or not this opportunity that I see is  worth pursuing .  I of course will admit that I am Green Round the gills and new to this whole experience .  One thing that I will say  is that  the my untrained eye and the little bit that I dunno  just from the BiggerPockets calculator this opportunity might be worth it but for my personal understanding on the steps on how to approach it  so this is a chance for you to correct me where I'm wrong so I can gain that knowledge and understand this better . This house that I'm looking at is in foreclosure and to be sold on April 9th  and from what I have known and contacted our County Treasurer Office Value at the house last year at 91,623k.

On the foreclosure list that I was looking at the house is for sale, 64k and some change, or at least that's the proper term I imagine it would be " for sale"  perhaps as the starting bid or what is owed on the property to make it current?I'm not exactly sure that's why I'm asking...

 If I write up a purchase-and-sale agreement and say I want to get the house for 20 maybe $30,000. is that actually the price that I'll be paying for the house or who would I still owe an additional $30,000 because the Foreclosure site listed at 64000k?

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