Purchase Contracts: What is the Best Way to Approach This Short Sale Property

My question involves real estate located in the State of: Maryland

What is the best way to approach this Short Sale property?
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Thanks for your replies to my threads. This property is located in Maryland. I find some interesting insights provided in this forum, so I am opening my thread.

I Find a property built in 2000 listed as short sale. I did see the property. There was no upgrade to the property since 2000. Heater, HVAC, furnace, roof , appliances, carpet, paint are 19 years old. This house does not have any light/fan fixtures in living/bedrooms. All toilets have lights.

It was listed originally for 225K and dropped to 210K recently.

As I mentioned in my post, there is no upgrade has been done since initial built. We estimated that we need to spend around 35-40K to bring to market ready condition.

I find a down trend on this short sale property listing that need work.

Initial listing for 225000 then dropped by 7%

I find another drop by 5% of price. I did find this property has Front Foot FEE debt 7150 (550/year, for 13 year).

Is it a good idea to wait for this dropping trend settle to step in for offer?

How do I protect from falling knife situation, if I make an offer?

Thanks for sharing.

Purchase Contracts: What is the Best Way to Approach This Short Sale Property