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Hello, I live in The Dalles, Oregon and have been looking for a house to buy. The realtor said he has found a house which is going to be foreclosed on in June. I looked at it, it's in a very good area and seemed to be in okay condition, with a few exceptions(needs a new roof, some plumbing/electrical corrections). The realtor said he'd checked w/ the title company and found the balance oweing is $127,000, current owner paid $160,000 in June of 2005. The asking price is $199,000! I told the realtor I should offer maybe something like $140,000-$160,000 max! I was told that would an offer like that would basically go nowhere and the lein holder probably would not want to entertain any counter offers. I find this to be rediculus. My thinking is the lender should want to unload this house. <br> Your opinion?
By TONY
