how much should I offer on this property?

[Account Closed]

Asking price is 174,000. It's a 1br/1ba (980sq ft) and 4br/2ba duplex (1400sq ft). One side is currently being rented for 1100. It's located in a type B neighborhood. And it's also a foreclosure. It has about 18,000sq ft of land. Assessment value according to city is 218,000.

This would be our first property if we were to get it. If my loan officer was right on the dot with his estimations, we'll be living in this property for free then we'll have more money to save up for our next property.

Right now, I'm thinking of just biting the bullet and meet them right where they want it. Offer 170,000 then ask them to pay ALL closing. That sounds a bit fair to me considering that it's a foreclosure and it's selling with a special warranty deed.

[Daniel DiGiacomo]

I wouldn't pay a whole lot of attention to the City Assessment. Are you buying from the bank or short sale from the owner/seller? I'm not 100% sure what you mean by type B neighborhood, but I'd assume you mean not the best house and not the worst? How long has the property been listed. The more days on market, the lower I'd offer.