A lot depends upon the current condition. If it is 50% damaged then it would be easy to buy at 50% ARV. If it is move in ready then you would be wasting your time.
This is not a Countrywide Reo , but I have also been watching a REO for some time now, and they have finally dropped the asking price 15k , and I was wondering would it be wise to still make a lower offer after they have dropped it 15k.
The property has been sitting a long time, and I know it is a nice house that only needs a small amount of re-hab work.
Thanks for your replies.[ Edited by rbjj on Date 03/30/2006 ]
A lot depends upon the current condition. If it is 50% damaged then it would be easy to buy at 50% ARV. If it is move in ready then you would be wasting your time.
This is not a Countrywide Reo , but I have also been watching a REO for some time now, and they have finally dropped the asking price 15k , and I was wondering would it be wise to still make a lower offer after they have dropped it 15k.
The property has been sitting a long time, and I know it is a nice house that only needs a small amount of re-hab work.
Thanks for your replies.[ Edited by rbjj on Date 03/30/2006 ]