I am trying to buy a house and I need to submit an offer for bank owned home,the house needs little repairs?

Question

like new carper , bathrooms and k/s remodel.They are asking 249K in Sacramento CA .How much do you think I can offer?

Answer 1

All Bank owned properties are sold "as is" and as such you have to be extremely careful. Your agent should recommend that an offer be made subject to inspections and then the result of such inspection will determine your ability to adjust your offer price. I would start by offering the price they are asking less the estimated cost of what you already know or suspect will need to be done to the property and then wait to see what else is discovered on the inspection report. Regardless of what your offer is there are certain disclosures required in California that you should review with your agent prior to making any offer. Here is a link you might want to look at:
Disclosures required explained: http://www.dre.ca.gov/disclosures.htm
To really review all the intricacies of real estate issues in California you should have an agent help you and you might want to go visit this link and go to the state California for all the research there
http://www.realestateformnm.com/reserachindividual.apx
Best of luck to you

Answer 2

As with any purchase, ask a real estate agent for recent comparable sales, so that you have a good idea what this home would go for in saleable condition. Do remember that a home does NOT need 'remodeled bathrooms" or anything similar unless they do not work. That you do not care for these rooms does not mean they must be replaced.

Determine costs for repairs and needed maintenance and calculate your offering price based upon those factors.

Answer 3

Get the best and meaningful website that deals with bathroom remodeling sacramento that has specific objectives and attainment of goals. This website is governed with the most specific principles. Visit the following link for more information.

Answer 4

Gabi, I have access to the MLS in Sacramento. If you want you can email me the address and I will look it up for you and give you an unbiased opinion. I am not an agent, just an investor, so I won't be selling you anything, just helping out.

Banks do not like negotiating, but I can likely come up with a good bid for you.

Answer 5

If you are looking for a prequalification we can have that for you in 24 hours just go to www.restructureyourmortgage.com and submit your contact information. best of luck.