Question
Does this house offer sound reasonable? (see details below)?
I am looking at buying a house. It is a Fannie Mae forclosure available through HomePath. The asking price is 199500. It's a pretty nice house, but the previous owner took all the appliances and a ceiling fan, the back yard fencing was not completed, and the back yard has some ditches that were dug for a sprinkler system which was never installed. They have installed a dishwasher and range since. Does it sound reasonable to offer full asking price provided that seller installs a refrigerator, installs a light fixture where the ceiling fan was, fills the ditches dug for the sprinkler system, and finishes fencing the backyard? Also seller pays all closing costs. (I know that FannieMae has a set 6% of the home value they will pay toward buyer's closing costs with the HomePath program which I think should cover everything.)
1 month ago - 1 answers
Best Answer
Chosen by Asker
A lot of foreclosed homes are sold "as is," so you may not have much luck with getting the seller to fix things. Depending on the area, the home may be fairly priced despite the issues you described. I mean, it's worth a shot asking, but you may be taking a gamble that they'll take another offer if the home is in good condition and priced well. From what I've seen (at least in area where I've been looking) the foreclosed homes have been priced rather fairly. Then again, there aren't many foreclosed homes in the area I've been looking, so they get snatched up quickly. You'd have to research what other homes are going for in the area of the house you're considering and decide whether it'll get a lot of other, less complicated, offers.
by Madame X
1 month ago
Asker's Rating: 