Here is the next offer we did...waiting to hear

[Kel S]

We put in another offer on a foreclosed SFH. Now just waiting to see if the bank bites or not.

Listed at $46k and been on the market less than 30 days
We offered $30k cash w/no contingencies
Last sold in 2003 for $120k
100% Taxable value at: $110k

The home is 1400 square feet and in a excellent neighborhood and school district. It's a 2 bed/1 bath. Has living room, large dining room, nice sized kitchen, den and family/rec room. Then 2 large bedrooms upstairs. The den could be converted to a 3rd bedroom.

It needs some work including all new carpet and pad throughout, one bedroom has no heat source so we would need to figure that out and have it vented in. It will need new interior paint and some dry wall work in the family room. And some other misc. repairs....the ducts need cleaned out as it looks like the previous owner was disgrutle and put depris down into the heat vent openings. It does appear structurally sound.

At the time we put in our offer the selling agent said that they had no offers yet. It would be great to walk right into this deal but not sure if the bank will accept an offer that is $16k less. We figured our offer is in line with the amount of work/cost we'll have to put into it.

I'll let you know if we get an accept, reject or negotiate from the bank.