I'm currently looking to purchase a home with a desperate seller. I've watched the home for a little over 5 months now and its yet to be sold. it's one of the cheaper houses in a neighborhood that averages around $180,000 plus per home whether 3 or 4 bedrooms. The seller wants $154,000 for the home, they moved from NC to Texas for a job opportunity and are still paying the mortgage. I've done a tax search on the home and discovered the home was purchased in 2012 for $146,000. it was just built and appraised earlier that year for $149,000. The home has been occupied for the last five years meaning there is equity in the home. What's the best way to calculate the current payoff of the home ? What would be a great offer to start with ?
3Bed
2.5Bath
1,601Sqft
.26Acre lot
Seeing that the home is fairly new its in great condition. There are still valid warranties. its in a great school district, close to a major highway. less than 2 miles from a police station, and right outside of downtown. i'm also looking to buy it to rent out if that helps.
