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Updated almost 9 years ago on . Most recent reply

User Stats

12
Posts
3
Votes
Andrew DeB
  • Investor
  • Grand Prarie, Alberta
3
Votes |
12
Posts

Low balling a foreclosure in Alberta- how low to go?

Andrew DeB
  • Investor
  • Grand Prarie, Alberta
Posted

So I found a fixer upper foreclosure on the mls listed at 190k. This is my first time dealing with a foreclosure so I'm learning the ropes still. Also I'm located in Canada. I put in a conditional offer of 170k, offer was rejected due to being conditional to financing but the lawyer dealing with the property is willing to work with me to get me what I need to get financing approved and make a unconditional offer. My offer is the only one ever made on the property and to me this is a sign I might be able to get it even cheaper. Once i secure financing should I make a even lower offer? If so by how much? It is already a great deal at 170k, with 25k repairs I'll be able to flip it for 240-250k no problem.

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