How much would you ask off the asking prices of this house?

Question

The house we are looking at, they are asking about $142,000, but there is a glut of homes for sale in our area.

I'm thinking we could start the bidding at about $110,000 and they cover the closing costs.

Do you think this is too much?

While I understand this is a lot off the price, I think they might be desperate because they want to move to Florida.

Plus, we are renting, so I think we are prime buyers right now because we don't have a house selling contingency.

Answer 1

I think you are in the wrong category.  But, contact a realtor and do some research at the courthouse to see what comps are selling for.