The house is located in Maryland and has been on the market for 3 months. The list price is $384,000.What is a fair percentage to deduct from the list price of a foreclosed home before making an offer?
';Fair'; is a relative term. Look at the condition of the house, the value of houses in the neighborhood and your finances. Real Estate is worth what someone is willing to pay for it, not a penny more (sorry to all the appraisers out there...but your reports don't mean much) so make a good clean offer and enjoy the house.What is a fair percentage to deduct from the list price of a foreclosed home before making an offer?
at least 10%. They can always counter offer.
Have a realtor figue this for you, they will know how much that is owed on the property and will help you determine a good offer. on this house it could be as much as 20% less than is due them. it is important for loan companies not to have bad loans on their books as it reduces what they are able to loan to others. This would be a 'Short Sale' in our terms.
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