First Time Homebuyer needs help in VA

[Tiese C.]

Hi,
I just found my hopeful first home. It's a 1233 sq ft home, built in 1955. No central heat/ac. Roof put on about 3 years ago, new windows. Appearance wise...looks stable. It's a bank foreclosure. THe asking price is $89k. I want to ask for a lower amount so that I could get the extra money to do repairs. My realtor says that I could use a 203k loan, (I think that's what she said...can't remember now b/c I"m tired). Because I"m a single parent and funds are tight, I want to know if anyone can recommend what amount to offer on this property. It is 'as is', of course. My rent now is $750 & that's about what I want to pay for a home w/ taxes, mortgage & insurance. My realtor said that we could offer $80k...to me that doesn't seem low enough, either, considering the market. Of course, I would get the inspection done on it.

So, please any help and info that you can give would be truly appreciated. I would like to have some information to bring to the table.

THanks so much & HAPPY NEW YEAR!!! :woohoo: :woohoo: