Posted by Rich-CA on July 19, 2008 at 19:09:27:
In Reply to: repo home posted by JOHN H. on July 19, 2008 at 13:35:51:
for the work you need done on the property. Pad the estimate between 10 and 15% for unforseen problems that may come up. Add in your profit margin. If you will be reselling it right away, put in 6% to cover commissions (you may not need to pay them, but you may, so cover the base). After all this is accounted for in detail, you will want to make sure you are at least 20% below market price. Oh, an leave some room to negotiate away so its still a deal if you get a counter offer.