Posted by CarolFL on May 02, 1999 at 10:33:48:
Tommy, you can TRY anything… but do you know what the estate is trying to do? what they need? and if there is still a balance owed on the property? These would be helpful. How long has it been on the market, and do they have some sort of time constraint for clearing the books?
Also, are you confident in the figures the trustee gave you as an appraised value? If not, or if you don’t know, try to get some comps.
If they are willing to finance they may not also be interested in a really low ball offer … but you don’t know until you ask.
BTW you should be able to get 65% of FMV in hard money, so if push comes to shove, and the FMV really is 140k, hard money could supply the cash for an offer within your range, and perhaps $$ to fix it up too.