Buying a foreclosure question

[DarrellS]

Built in 1975

Pull one outlet and it'll tell the tale.

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[ghenson82]

So the place I was looking at already has 2 offers above asking price. That was quick

[Christianhuff]

Not surprising, people are looking for rentals at a crazy rate right now. I was lucky and bought mine as a foreclose with no inspection in 2008 a month after the market crashed. I paid $100 a sq. ft. and two houses on my block have sold in the last two weeks for 175+ a sq. Ft.and they are 2500-3000 square ft. They both already have for rent signs out and chances are someone will buy the rental you are looking at over asking without an inspection.

[ghenson82]

Yep, the asking price was about 1/3 of the comps in the area.