Below is a post I made a few months ago regarding a similar question:These are the questions I ask over the phone before I schedule a showing:-So, when are you looking to move?

I would agree that you should be able to keep your soft costs around or below 30k unless you are using expensive hard money or something.

I know seller is desperate and there is only one lender, so most likely it can sell for asking price, which is 50-60K below comps.Can I contact the bank directly to present my offer?

My email is in my signature below.

As I revealed prior to house values are generally dropping inside Memphis as well as the fall with regard to homes price ranges may cause an issue for a couple regional home vendors, unfortunately can be creating some sort of opportunity for opportunistic house buyers.It is actually superior with understand there continues to be low-cost housing around the particular United States and also really good house ordering solutions are out there within certain areas.

Simply, I would reduce my offer equal to the amount of the repair cost below what I would pay if there was no need to do the repair.

I think I know the problem with this one -- I didn't get it significantly below list price, even though I got it at 78% below ARV (29900+28360)/75000.

In fact, it's VERY difficult to mortgage an amount below what you are financing because the various fees charged by the mortgage company start to become so high, as a ratio to the amount finance, that usury laws start prohibiting the loans as the mortgage companies will only reduce their fees so much.

But look what happens when the rate sold is higher or lower.If the broker sells below market rates, such as 4.25 or 4.0%, the lender is basically saying, "I hope you charged some points up front, because we ain't paying you squat!".

Below is a script that I'm using.