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Foreclosure/VA Foreclosures


Hello! My husband and I are making an offer on a home tomorrow. It is a VA foreclosure that has been on the market for 73 days. At this point, we are the only buyers interested in it, as it is a long ways out of town. They have dropped the asking price twice since it has been on the market. We are trying to decide what we should offer on the home. The asking price today is $79,000. We considered offering $60,000, but are thinking that might be low balling it too much. I guess my question is with a property that has been on the market this long, with no other interest, is the VA more likely to go lower on the price? Also, do they ever cover closing costs? Thank you for any advice you can give!

Good evening and thank you so much for your question!!  I have a few questions for you:

-is this property listed on a foreclosure website or in your local MLS?
-are you working with a Realtor as your buyers agent?
-is this an online auction?
-have you seen the house on the inside and looked outside?

Regarding the pricing, typically what happens is the house is listed, then every 30 days(or so), the listing agent must complete an updated cma and will reduce the price.  A good example that we see in our market..listed at 79,000, then reduce to 74,000, then 69,000......once it hits the sweet spot, everyone makes an offer.  I look to see when the last reduction was done and come in under what the next reduction will be, considering closing cost.  

They will do closing cost(but with cash deals, vary rarely), and it also depends on the house.  

Does the house need alot of work or is it in move in condition?  What is the age and what type of loan are you getting?

I am happy to answer your questions, if you want to call me(919-323-0980) or email me at

I hope this has helped some and I am happy to talk with you further!!!!



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Tonya Snow-Saleeby


I am a Realtor® in Raleigh Durham area and have working knowledge of the market in Durham, Raleigh, Hillsborough, Chapel Hill, Bahama, Rougemont, Roxboro and surrounding areas. If it involves real estate, I can help you!! I have worked extensively with bank and HUD foreclosures, as well as short sales. In addition, I have worked with many first time homebuyers...providing them with valuable information and insight into the exciting first home purchase!!!


I was born and raised in Roxboro and spent much of my time in Durham. After living in Savannah, Georgia for some 14 years, I have returned to Durham. Since returning, I have been working as a Real Estate Professional and know the market well. I also have working knowledge of the surrounding areas, such as Hillsborough, Mebane, Efland, Rougemont, Bahama, Cary, Morrisville and Raleigh.

Durham Regional Association of Realtors North Carolina Assocation of Realtors

NC Certified Real Estate Broker Fonville Morisey Realty Broker Relocation Certified Associate Certified Real Estate Negotiator Graduate Realtor Institute(GRI) North Carolina Notary Public Training Mentor

Awards and Honors
Fonville Morisey Manager's Award for April & December 2007; February, April & November 2008; March, April, May, July, August 2009; April, June, July, September & December 2010; March, April, May, July, October & December 2011; January, March, May, July, August, September, October 2012; April & June 2013 Fonville Morisey Sales Associate of the Month for March 2009,September 2010, June 2011, July & September 2012 Fonville Morisey Listings Sold Associate of the Month for December 2010 Fonville Morisey Listing Associate of the month for December 2011 Fonville Morisey Executive's Club 2007, 2008 & 2010 Fonville Morisey Director's Club 2009, 2011 & 2012 Fonville Morisey Fast Trackers Award 2007 Fonville Morisey Spirit Award for Croasdaile office 2010

Past/Present Clients
I recently purchased a home in Durham, and Tonya was my realtor. I wanted to tell you how wonderful an experience it was to work with Tonya. I am probably the longest standing client she has ever had! My first encounter with Tonya was about 1 1/2 years ago. After living and renting in Durham at that time for about 3 years, I had decided it was time to go house hunting. I drove by a home that I considered a possibility and Tonya`s name was on the sign as the listing agent. I immediately called her from my cell phone and... she answered!!! I never did look at that home; but since that day Tonya has spent countless hours assisting me with my home investment, and she has always been available in a timely manner. She consistently worked with a particular listing agent who was, in my opinion, next to impossible, if not utterly impossible to work with. When the sale of that property failed for us, she did not skip a beat with proceeding to the next "adventure!" She completed all of the "legwork" for me and did so eagerly, making phone calls, getting questions answered, setting up inspections, as well as showing me many, many properties and encouraging me when I looked at her with each and every "no" . Finally, we found the property that is right for me, and during the closing process, Tonya worked relentlessly to accomplish the necessary steps so that we could close to my satisfaction. Tonya handled difficult situations with ease and confidence and professionalism. She remains calm under pressure, and is consistently upbeat and positive. Tonya went above and beyond in every aspect of my experience. I truly feel that she is not only my realtor but my friend, and Fonville Morisey has a loyal client because of Tonya Snow-Saleeby. Charlene You really are amazing. I was in business for 40 years and I’ve never met anyone with your amazing work ethic—just one of your great business skills......Frank and Nancy

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