If i purchased a foreclosure house that is on the market for 119,000, how much should i bid for?

Question

If i purchased a foreclosure house that is on the market for 119,000, how much should i bid for?

Answer 1

I'd check out what other homes in that area are selling for .....

Have an inspection on the property such as roof, electric, plumbing, heating and Air ect ..... to make sure of what you WON't have to put back into it .....

Then make your Offer based on the information that you've discovered ....

Just off hand .. I'd offer something like $100,000 to $105,000 depending on the condition of the premises ...

Answer 2

Find out what it will rent for.

Multiply by 120.

Then go lower by 1/3