You might be able to show apreciated repair amounts to offset downpayment if a.

If you've built a good rapport with the seller, gotten a good idea about the repairs and you've done your comps you should be able to make an offer right there on the spot.

If you are financing and the lender is requiring repairs, then you will probably have to pay for some of them or ask the bank to split to get it closed.You have to remember that the bank may have hundereds of deals going, and there is a chain of command that these REOs go through.

Personally, I'd be more concerned if it did have a COA (condo *** board-not hoa) You do need to address long term issues such as repair and maintenance, of buildings and grounds, whether it is apartments or homes, and how that is done would be different.

True market value is what you would expect to get for the property after the repairs.

Meaning, you are not building reserves for expected and unexpected repairs you may face as well as vacancies.

*Needs Repairs?

Crazy... or not.We are waiting to close on our first property - little house for $12k, putting $12 more in for repairs.

I'm trying to coordinate with the city and a contractor to get the necessary repairs done to remove the lien prior to selling BUT if that is not possible, do you know any bank that would loan on this property?

Are you close enough to manage/repair these houses?