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Updated over 13 years ago on . Most recent reply
Trying to buy Freddie Mac home
I am looking into buying a Freddie Mac home that has been on the market for about 100 days.I would be a first time home owner. They were originally asking 41,000 for the home and then it dropped down to 30,000. The house is located in Cleveland Hts, Ohio. I was wondering how much would be a reasonable price to bid on the house. I would be paying cash buy the way. I would have to put up 1,250 in escrow if I were to buy the house for repairs. The city asks that people put up 125% in escrow for repairs on Point A violations, I would like to know what are my opinions when it comes to making an offer.
Most Popular Reply
I think 20-24k is a good starting point. Since you have cash do a big deposit (maybe 10k) and they will know you are serious.