The lender rejected my 1st offer of 70K. They said it was <market value - doh! The lowest they’ll take is 125K. Market value is about 130 - 135K. The house needs $20K in repairs.
I told them the borrower tried to sell for that amount & no one would buy it. Also, there is a high voltage electric overhead power pole & powerline in the back yard which should knock the price down. Here’s the kicker: foreclosure scheduled for Tuesday & I’m submitting a counteroffer on Monday.
I cannot offer >80K & expect a profit. Any suggestions on how/what to counteroffer such that they might accept & I make a profit?
Thanks.