Foreclosure Local
What percent of fair market value is paid on an auction foreclosure?
I’m trying to get a rough idea of how much of a discount there is to fair market value for a public foreclosure auction. I know there is a lot of variables, but just looking for a rough range. 60-80%?
If it helps, I have a house in mind, it zillow’s at 300k, is in a nice neighborhood, haven’t seen other local foreclosures, the central air needs to be replaced, but otherwise appears to be in good condition.
About 70% of the lower of FMV or Debt.
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