I'm guessing it means that you only buy a foreclosure at 20-30% less that what the actual market value is. Is that correct? Or do you apply it to the assessed value from the county, or the estimated market value from somewhere like zillow.com (even though zillow usually underestimates by 10-30 K).
I understand that you need to cover closing costs, loan payments, and any repairs that need to be made, I'd think that 30% below the actual market value would be about right, but just wanted to find out from any seasoned veterans out there.
Thanks in advance.
2006-07-27
04:24:11
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2 answers
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asked by
Anonymous
in
Renting & Real Estate