All Forum Posts by: Erick LaCroix

thanks jon.

as for a comp report I have found 10 comps in a 1/2 radius in the past 5 months. now my next step is the price adjustments... is anyone familiar with this? im not sure how to complete filling out this report. any help would be greatly appreciated. Thanks

Thanks for the feedback guys. nationwide I am going to look into that info today and get the numbers. I was just using the 08 info because when the market does bounce back I figure i could sell for higher than what the 08 assessment was. How low of an offer do you think the bank would entertain? If there asking 60,000- 70,000 and the property has been on the market for almost a year?

Hey guys, I am 21 years old and have been looking into condos in my area. I would like to eventually get into owning rental property but for now I am looking into buying a condo for my residence. I have found quite a few bank owned condos with asking prices at half of what they were assessed at last year. For instance one has the asking price of $69,900 and was assessed in 08 at 138,400. My question is how much should I put in for an offer. I know the worst the bank can say is no or counter offer. I feel like buying a condo at this price and holding on to it for 4 or 5 years and selling will leave me with a good size downpayment on a house by the time im 25. What do you guys suggest for an offer with a good chance of getting accepted?