What is the average discount on foreclosure after 1 year vacancy
Anyone know what the usual discount is on a foreclosure that's been vacant for a year? I'm looking at one in Bakersfield right now, weeds 6ft tall, but the house (on the outside) is in decent shape. If this inside needs paint/floors/cleanup it could be a good deal. Zillow estimates the place is worth $117k, but that's subjective. I'm thinking of calling up the holding company and, after inspection, offering $50-60k. Thoughts anyone? I'd appreciate your perspectives.