Help: Price Advice for Buying from an Investor
Hello all,
I am looking to buy a home for my family to live in. I looked up information about the property and found that the owner is an investment company. I found they bought the property for 42% of the current list price about 18 months ago. Based on previous and current pictures only, I can see that they have painted the interior of the place. I know that the area had some damage due to a tornado that hit a couple of years ago. I know that the house next to it suffered damage but I am unsure whether this house did. Lastly, I know that homes in the area have sold for 60% of the current list price. However, I know that with recent construction in the area, homes are going up in price. There is a current comparable listing (same sq ft, bedrooms, bath, similar features, same neighborhood) near it that was previously listed for the same price that has gone down to 87% of the list price.
So the question, would an investor balk at an initial cash offer of 80% of list price?