MLS Find

[Michael Young]

Hi all, I've come across a great house that needs a ton of work to be livable. It's listed on the MLS at $190K. The pictures make it look like it has mold, maybe some floor rot on the main floor above the basement. Roof looks ok and siding looks ok, but inside could be a total gut. I'm estimating $75000 for repairs and the ARV is around $295-$305 depending on the basement finishes. These numbers make it look like I need to offer somewhere in the $145K range. I'm in the ultra hot market of Colorado and this one is between Denver and Boulder. What is the likelihood of an accepted offer at that much of a discount? Can anyone offer any advice on how to word the offer to win in a competitive market while getting the price I need? Appreciate all the responses. Michael