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Updated over 8 years ago on . Most recent reply

Kathy Bayer's profile image
Kathy Bayer's profile image
Kathy Bayer
  • Investor
  • from Brooklyn, New York
  • Member since May 27, 2015
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Kathy Bayer's profile image
Kathy Bayer's profile image
Kathy Bayer
  • Investor
  • from Brooklyn, New York
  • Member since May 27, 2015
Connect
Kathy Bayer
  • Investor
  • Brooklyn, NY
3
Votes |
20
Posts
Foreclosures

Coming up with an offer

Kathy Bayer
  • Investor
  • Brooklyn, NY
Posted

I just found out about a preforeclosure in my building and am exploring the possibility of making an offer. I've read some posts that say you should offer 20% below market value. Other places say 40-70% below. The apartment was purchased for $250K 3 years ago. The mortgage balance is @ $233K and the market value is @ $600K. Can anyone share guidance on how to come up with an offer?

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