I found this repossessed house in my town listed for 97K. It is a good starter home 3 bedrooms, 2 bathrooms, fenced in back yard, most appliances (no fridge)1400 sq ft, and it has a garage for my seven I was thinking about placing a bid on it but Friday my realtor called and said the price had been reduced by 10K!!! What are the odds of that happening? It is a government repo and it sat on the market for a month, so I guess they just want to move it. The price will not be publicized until late today (Monday) or early tomorrow. So my realtor and I stayed up late last night (too bad she is not a hotty) putting together a purchase contract. I offered 85K but the seller has to pay 3K for closing costs, inspection, appraisal and whatever is left over goes towards a new refridgerator. So basically I offered 82K for a house that last appraised for just over 100K according to the former owners taxes last year



With any luck the seller will accept my offer and we can close by February's end. I will post some pics if the deal goes through... Wish me luck guys & gals

 

I seriously hope all goes well for you. You could have a nice house warming with a few rotorheads.

 

Wow, houses must be really affordable in Kentuky.

I have a 3 bedroom rambler with a full unfinished basement on a 2 acre lot. It just appraised for $210,000 last month.

Think I will retire in Kentucky...

 

Good luck...let us know how the whole 'government repo' houses go...I was thinking about them myself, just dont know if its worth all the aggeravation. Take pics too if ya get it!

 

Things are fairly cheap in KY, the only reason the house is that much is because it is 3 miles from Toyota Motor Manufacturing of Kentucky. The houses are closer than sardines and the lots are tiny are the only bad things. As you get further away the prices drop and the lots get bigger. A friend of mine bought a house that has 3 bedrooms, 2 bathrooms, 2 car garage, and a finished basement, 2600 sq ft on a 1 acre lot for 115K.







Thanx Judge. I might put off my house warming until May or June until some friends and I can go to Deals Gap/The Dragonin TN. Even though it is normally a sport bike event, I am trying to get as many rotor heads as possible to go. Maybe we could break the house in then

 

Good luck.

 

good luck, wish I could buy a house for 210,000

let alone 85,000!

 

try living in seattle. a 1 bedroom apartment goes for over 1200 a month. An average price for a decent house around here is about 300k.

 

Just an udpate...



They accepted my bid! The house is off the market. My realtor and mortgage officer are expecting to close by Febraury 27th! The main obstacle now is getting teh house inspected and appraised.



This is truly cause for celebration!

 

Congrats how did you find out about this forclosed home? Me and my wife are looking for a home but anything less then 130k here is nasty...