The property is a 2/1 in north park. I waited until a month before auction to put an offer in. I low balled just for the hell of it several months ago when they listed it and he just laughed at me, ironically the listing agent is also the seller. I’m sure it hurt his ego to get an offer of 200K of his 04 purchase price.
I waited it out and he ended up calling me a month ago trying to strike a comprimise. I submitted the lowest comps I could find and asked for 20% off that all comps we of short sales and fixers. I did an amature appraisal. At this point he decided to work with me, probably frantic about being forclosed on. At first the bank said no and then they changed there tune a week later to which I lowered my offer another 10K. Funny how desperate they are they took it.
Yes it is in a crappy part of north park and it is hard to determine rent. I am most likely going to walk away but thought it was an interesting story for you guys….
