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Purchase price vs the listing price on a Fannie Mae HOMEPATH house

Asked Apr 16, 2011, 04:06 PM — 2 Answers
How much lower can you offer as a purchase price vs the listing price on a Fannie Mae HOMEPATH house. It is foreclosed. Many houses in neighborhood on the market, many foreclosures in the area. We live in Winston Salem, NC.

Obviously we want to buy the house for as little as possible.

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Fr_Chuck Posts: 72,624, Reputation: 37036
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#2

Apr 16, 2011, 04:59 PM


Have you searched county records to see what the amount of the loan was that got foreclosed on ?

Have you got an general appriasial on the home, comparing it to others for sale and others that have sold recently
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Fr_Chuck's Avatar
Fr_Chuck Posts: 72,624, Reputation: 37036
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#3

Apr 21, 2011, 08:34 PM


Again, "tax value" is nothing, means nothing and has NO, again NO and did I say NO, real meaning in the value of a home now adays.

Almost 2 or every three homes in Atlanta are not worth even 2/3 and some 1/2 of the tax value. Unless it has been changed the last year or two.

What has a meaning is a real value set by a licensed apprisial company.

And comparison value is of homes in the same condition.
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