Is that plywood where there should be a garage door?

LOL, that's an old photo. there is a white roll-up door now with windows along the top The grass is all dead nwo too

Be careful with sight unseen offers...being a bank reo they will be reluctant to do any repairs.

My mom and realtor saw it--seems to be cosmetic only. Pretty much just change the carpet (exterior is in good shapr and the roof loks newer). We'll see if I get to go into escrow and get a professional inspection. Am goign to find an inspector that has a lot of experience with the city and all the cracked slab issues since that is my biggest concern.

Anythign else I shoudl knwo about if my offer is accepted?

1)Home inspection.
2)Hire an atty to represent you. It is worth the money to ensure your interests are covered, especially with an REO-you want to make sure the title is clean.

sheeesh, what do you think she's buying, a barn?

Looks like you'd be getting a heck of a deal! Good luck!

I love the address

dang, that was previously assessed at $448 thousand!!!

foundation repairs can be a deal breaker Dip!

so that is common in SoCal?

don't get tied emotionally with this place until the inspection has been done..............

Depends where you are. the city of Santee has very clay-rich soil which tends to expand an contract a lot, so there is a high number of cracked slab issues there. Most houses on the market that are vacant have the carpet pulled back from people tryign to see if it's cracked or not. The house I'm interested in has laminate flooring, so I can't just lift it up and look. The inspector wil need to be prepared to check the floor--I think they use levels and moisture detectors to check for cracked slabs under hard flooring.

The listing agent is askign that I make my final/best offer for the house I want. Realtor says this is what happens when there are multiple offers and then asked me if I want to raise my offer price. Not sure what to do!

the list price is $244 and I offered $260. Zillow.com estimates the house between $245 and $318 and most of the houses in the neighborhood have estimated values in the $300's (except just a couple). I'm approved up to $300 but don't want to pay that much for a 2/2. Any suggestions? Keep my offer at $260? Raise it a little since I can afford it???

Dip-noone but you can make that decision. Figure out the max you are comfortable with, go with it. If it doesn't get accepted, move on to something else. The last thing you want to do is get into it for more than you are comfortable with. That is what has led to this current real estate problem-people getting in over their head without regard to what they could afford. One difference here however is the market is at a low point now vs. a few years back when they peaked.

I suggest you hire an atty-don't take the realtors word for anything-they have one thing in mind-commission.

Ditto this... the only snakes worse than real estate agents are carsalesmen. Hire and utilize a competent real estate attorney. Best money you may ever spend. They are solely looking out for your best interests... your real estate agent plays both sides of the deal to work out the best deal for him.

Hiring an attorney sounds ideal, btu I don't have the extra money to hire one. I saw the inside thsi morning and it really is a cool place...just some minor cosmetic things to fix btu nothing that requires immediate attention from what my eyes can see. I offered my max price contingent on the appraisal. So if the appraisal is less, I can say "Hey, the hoem is only worth this. Take it or I'm out!" And even if it goes for my max price, after mortgage, taxes, iunsurance, utilities, cable, cell phone, car insurance, health insurance, gas... I still have over $1200 a month for food, fun, and savings

Thansk all for the info! It's just a waiting game nwo to see if the REO bank picks my offer

Having been in the mortgage industry for 20 years and having bought and sold several properties, hiring an attorney is a worthwhile investment. The potenial problems down the could cost much more than hiring an attorney now. IMHO, very short sighted to not hire someone to protect your interests, especially on a foreclosed home. Didn't you post before about getting a gift from a family member? Borrow from them to pay for an atty.

Good luck.

Don't forget about getting an Inspection - well worth the money, IMHO.

Yeah, there's an inspection contingency as well. Basically, the offer was written so I can get out of it if I want for lots of different reasons.

Sounds like you have everything covered.

how big are the cracks in the walls?

??? No cracks in the walls. There is a thin long crack in the dining room that runs between the drywall panels in the ceiling. I think they remodeled the kitchen and dining area, so not sure if this is just a minor little crack from rearranging walls, ro what. That'll be for the inspector to decide.

I haven't heard anything from the realtor yet on my offer, so still just anxiously waiting...

Any news?

yeah, stop stalling

Sorry, I don't really go on BOL when I work from home.

I GOT THE HOUSE!!!! I found out tonight about 7:30 that the bank chose my offer. I'll get all the details and paperwork tomorrow, plus I have to order the inspection as soon as I sign the offer because the inspection contingency was shortened to 7 days in the last counter offer. I can't believe it was just last Friday that my mom and Realtor found this place and told me to make an offer and already it's mine!

Congratulations Dip!

Hope the inspection goes well!

Wow..that was quick-I guess the bank wasn't horsing around.