I found a buyer who is looking for a 3 bed 1 bath minimum SFH with RV access and they have a budget of $140k. Unfortunately they just mad an offer with their real estate agent on a house they found and it was accepted now they are just waiting for final approval for the loan which might take 2 weeks.
Anyway I though I might as well still keep looking in case their deal doesn't go through and if not just find another buyer. As I was going through todays paper I found the following add in the classifieds:
"$205,000 Motivated Seller
(address) Remodeled! 4+2,
1/2 acre Horse Property~ RV
acc, encl'd yard (phone number)"
I typed in the address and noticed that the virtual appraisal was for only $133,088 and with 1319 SqFt.
Since there is such a big difference in price and they mentioned they remodeled I though maybe they added some square footage to the house!?!?
I haven't called them yet and was wondering what I should ask the seller?
I thought I should ask them about the size of the house and what features the house has.
Should I tell them about what I found out online?
What other questions should I ask?
Also how would I negotiate a price below FMV? After what I found online I think I could definatly get the house for just below FMV. How do I argue my case to get it for 50% of FMV I think at most I would offer 30% off FMV.
Should I just make an offer on the 2nd or maybe 3rd call and stick to it?
PS: The tax assessment is $131,900 and was assessed in 2009