SFH, should I do the deal?

[Seth Gendron]

SFh in my area has been on the market for a little over a year. I have been inside it a coupke times. With winter here it has unveiled this foreclosed property has issues...

It has minor foundation issues(minor leaking in the basement from the foundation), plumbing needs work flooring needs to be replaced and lasy the whole house should be repainted.

This property in good condition values st $225k

On the market for $155k

My potential offer 125 with 5% back

Due to $40-$50k worth of repairs..

My ask is would I be silly to try to offer lower or is my offer decent? Lastly in will be requesting a 203k loan to assist in repair.

Thank you fir reading and your opinions