Can you give me some feedback on the following property?
sq ft 2940/ 4 bedrooms/ 2 full baths/ 1 half baths/
Asking price $550,000
1st Mortgage $417'000
behind in payments.
One of the first thing you would need to take into consideration is the condition of the property, where the property is located; ie; is it near parks, schools (is it in an overall good area. If there are repairs that are needed; I would definitely factor those repairs in my offer price.
You stated the mortgage payoff is $417,000 and they are behind in there payments. Would there lender consider a Short Sales(This is where the lender accepts less than the full payoff; in lieu of foreclosing on the property). I hopes this helps. Let us know if we can be of further assistance.