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Updated over 9 years ago, 07/20/2015

User Stats

46
Posts
10
Votes
Matt Sterling
  • Investor
  • Brownstown, IN
10
Votes |
46
Posts

Questions About Making My First Offer

Matt Sterling
  • Investor
  • Brownstown, IN
Posted

I'm making my first offer on a property Monday.  It is currently bank owned and they have been doing tons of updates and are still in the process of doing more and all will be completed before a new owner would take over.  They are also paying off all the back property taxes owed.  

There is one thing that I will be doing if I buy it which will cost around $2k(This is a $200kish property).  Should I include that in my offer? If they do concede that in the final deal, will they basically be adding $2k to whatever their final number really was? So that in reality, I'm not getting a discount at all besides the fact now I'm not 2k out of pocket my first month, instead it's effectively in the mortgage?  Same question with closing costs.

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