I found a home in my new found radar of looking at houses as I drive. Well I found a house that "I" want, ha-, it now has a Real Estate sign out front so I called on it to C just how much it was going for. It is actually bank owned per the broker I talked to over the phone.
I did some research and the home several years ago sold for half a mil., this home sits on 7.5 acres, has a pool, separate garage, 4 beds/2 bath. The latest owners foreclosed on it. The house has sat vacant now for well over two years. Meanwhile, the house has been vandalized; the pool is now one big mound of dirt with grass, (if I hadn’t had done the research on it, I would of never known I was walking on the pool!), the A/C unit stolen, refrig, etc. gone. It really needs some, OK alot of TLC. I walked in it (door was agar) and I could smell that musty smell. Needs updated kitchen cabinets,heck, it even needs a kitch sink! someone even took the carpet and left the liner in the bedrooms!
The house according to the property appraiser’s web site is listed for 166k, the bank has 100k, the broker said that the bank won’t listen to offers less than 250k. What the heck?! The broker also told me that I couldn’t go directly to the bank myself and make an offer; I had to go thru him.
Tell me how to handle this situation?
Thank you guys! You guys are awsome!!!!