newbie ? -- does the foreclosure amount mean anything to me?
I'm a newbie looking at my first single family, and I have this question. Looking at a foreclosure for sale by the bank (listed with an agent) I can see this on Zillow: "The lender, US BANK TRUST, assumed this property for $114,667 during foreclosure proceedings and now owns it." Should I take this amount into account when coming up with my offer amount? It's been on the market for $147,500 for over four months. Is there a bank formula for a price that they'll accept, or is that wishful thinking? Thank you all for your help!