Making an offer on a house-need advice

02-03-2010, 05:29 PM

Can't answer your question without knowing what the house is appraised for or assessed at, at the minimum what similar properties in the neigborhood have recently sold for. It may be a half million dollar house that the bank has 300,000 in, if that's the case negotiation isn't going to get you far.

However, there IS a reason the house hasn't sold in 3 years. Maybe it's the mold, maybe something else. In most states a seller is required to disclose any material defects to a buyer, so they have to tell you about any major problems that exist.

02-03-2010, 05:29 PM	#5
Resipsa Guest Posts: n/a	Re: Making an offer on a house-need advice Can't answer your question without knowing what the house is appraised for or assessed at, at the minimum what similar properties in the neigborhood have recently sold for. It may be a half million dollar house that the bank has 300,000 in, if that's the case negotiation isn't going to get you far. However, there IS a reason the house hasn't sold in 3 years. Maybe it's the mold, maybe something else. In most states a seller is required to disclose any material defects to a buyer, so they have to tell you about any major problems that exist.