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for those of you who have bought a lender owned home...

My husband and I found the perfect house for our family. We have a lot in our favor on it with it being lender owned to get a great deal. If you have bought a lender owned home, how much were you able to negotiate the price and why? This house is a definate fixer upper, but nothing we cannot do on our own.


Asked by LovinEveryDay at 11:18 PM on Jan. 26, 2009 in Just for Fun

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Answers (1)
  • We bought one about a year and a half ago. Our agent recommended that we bid the asking price so it would pretty much guarantee we would get the house. He knew that there was someone else who was going to bid on it and if they were to bid higher than us they would have gotten it. So, we just bid the asking price which was way below market value. It was a fixer upper but still in pretty good shape structurally just needed small things, carpet, paint, stuff like that. I think we probably have about 20,000 in equity on it already! We got a great deal! Oh, and we weren't able to negotiate the price after we put in our bid. They did give us a $3,000 allowance but I can't remember for what now!

    Answer by jacy3031 at 11:27 PM on Jan. 26, 2009