<prompt> Human: Hi there!Im looking to buy a house that is listed at 75,000 was just reduced from 100K 10 days ago. The house needs major cosmetic work, and significant insulation installations and because of that I wanted to low ball the offer to 40,000 and add in a 10-15,000 loan for repairs. Is adding a repair cost to a mortgage loan something that people do? Seems like it would make my down payment redundant, but they would make more money off of the interest.Some info about me:Approved for 75k loanCredit rating: 760Age: 23Savings: 16,000update: Real estate agent was able to give me some info, and why I would not be able to get a mortgage for the house. For me to get a mortgage it would first have to be deemed livable -- electric, water, etc active. The bank will not turn on utilities while they own it. No exceptions. I would have to pay cash for this house and THEN do an inspection to see if I can get insurance the pluming and electric might not even work, theres no way to tell. Its got a ton of potential, but it may not be for me. Heres some info an agent gave to me Thanks for the help, everyone.Assistant: Yes, getting a bigger mortgage to cover repairs is a thing but only if the house appraises for at least how much the loan would be for. Honestly speaking, I very much doubt anyone would accept 40K on a house thats listed for 75K, specially since they were at 100K already. Look at the comps of the area and see how much theyre going for. If they are in the ballpark of 75K, your offer will be laughed at. Human: I should also mention the bank bought the house for less than 4,000 at a foreclosure auction  <response>: If your offer came in at 40K all cash and a week or less for closing, you may have a chance at 40K since its a bank but outside of that, I doubt it. 