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Updated over 7 years ago,

User Stats

10
Posts
3
Votes
Mike Higgins
  • Toledo, OH
3
Votes |
10
Posts

Realistic offers on homes for sale?

Mike Higgins
  • Toledo, OH
Posted

hello everyone,

New to bigger pockets and new to the REI market. I've been reading countless websites, columns, forums/ etc. and couldn't be more excited. Quick background to my situation is my wife and I own a home (well she owns it, nothing in my name due to credit at the time) and our neighbors house went up sale a few months ago. The house has many updates and as far As I know is move in ready tomorrow. I feel it's the perfect house to start my REI. My strategy will be the buy and hold and rent out my future properties. The house went up for sale 3 months ago and they were asking 90k. They've had 2 price drops since then and only are asking 75k now. This makes me feel they are desperate to sell (I believe the woman had held issues and her daughters are selling) and I'm wondering what type of offer would be appropriate in this situation? Obviously the lowest deal is the best but I don't want to insult them with an unrealistic deal and lose them off the bat. Their zestimate is currently right about their asking price.

So how low would be too low an offer? This is assuming they pay all closing cost so  

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