House listed at over 300,000 for 90?

Is there a way to ck on this? A relative is looking to buy a house that is listed as 322,000 on trulia and 396,000 on realtor.com but they are telling us its a foreclosure and can buy it for 90.

Trying to figure out if this is possible. Seems super low.

I have the address

Re: House listed at over 300,000 for 90?

You can FM me the address and I can pull up the listing and let you know what I find out.

But a couple of things -

If it's listed, it's going to be listed at the same price no matter what site it's on. So the $322K on Zillow may be a Zestimate, which is their estimated value, and notoriously inaccurate. It doesn't reflect true market value the way an appraiser or a real estate agent doing a comparative market analysis would come up with value.

And if it's a foreclosure, meaning it's a bank-owned property because the bank already foreclosed on it, there's usually not that much negotiability there. The bank has already incurred all of the costs and fees involved in foreclosing on the house, and they do their market value analyses... there is no circumstance I can think of in which a bank would list a house for close to $400K and be willing to sell it for less than 25% of that list price.

When you say "they" said a buyer can get it for $90K, I am not sure who "they" is... but doesn't sound right to me!

House listed at over 300,000 for 90?

Is there a possibility the house could have damage from the hurricane? If so, then it could be a foreclosure for 90k but the house is probably going to be a total knock down.

Re: House listed at over 300,000 for 90?

the only site I trust is MLSLI

I get calls from Zillow all the time on houses that haven't been listed in years that people think are foreclosures etc

but it doesn't seem right to me