Thanks Jorge,
We've made an offer on a property to the seller and are waiting to hear back. We offered 300k on it and it needs quite a bit of work so we're going with a 203k mortgage. The 2 houses right next door were built at the same time and are the same house with reverse layouts that sold for 345 and 350 in May and June of this year. Both of those properties were in excellent condition not in need of any repair.
I'm a little concerned that Ocwen will not come off their list price of 349. The agent representing the property says she's been trying to get them to allow the listing to be reduced with no success. We aren't willing to come up much more if any from our offer. All the copper has been stolen from the property as well as front and back doors and condenser from HVAC unit. There's a crack in the foundation that has a small leak that doesn't appear structural and there are a few broken windows and no appliances as well.
My agent has made the issues with the house obvious as a part of our offer paperwork but with a short sale I'm sure the bank doesn't consider all the problems with the house like a regular homeowner sale would. We'll see what happens
