Okay here my situation. I want to place a offer on a foreclosure that is on the market for 246,500. It was a previous purchase for 487,000 2 years ago. It is a beautiful home , but inside need lots of comestic work. The Comp. in the are last 3 in NOV. 400,000. This property has been moved around throug 2 realty company by the bank to get sold. price before 246,500 was 341,000. Now I would like to place a offer on the home with the intent to get a FHA203 rehab loan. I am thinking about 200,000-215,000( i don't now if that is to low to start??? Next question can the bank that own this foreclose home give money back for closing is that a option with foreclosure homes. One more question. Well i have purchased a home with my name one. me and my husband plan to put both of our names on this one. Does he quaifity for the 7500 tax credit. I know it for first time home buyers which i not. But he is. Thank you everyoe for time and advise.
Message Edited by haapril on 12-20-2008 10:36 AM
