What would be a reasonable offer to make on a home listed for $27,900.?
Jun.09, 2010 in
Foreclosure Lists
Are there guidelines to go by? The home is a bank foreclosure if that matters and needs several upgrades….thanks:)
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June 9th, 2010 at 1:03 am
Make any offer you want. The owner will come back and probably make a counter offer.
June 9th, 2010 at 1:17 am
Offer what you think it is worth, the bank can reject or counter offer.
June 9th, 2010 at 2:13 am
You can offer whatever you want but keep in mind that the home is probably discounted already and the bank is already loosing money on the deal. Lots of times it comes down to highest and best offer. The bank will get several offers and come back with “give me your highest and best offer”. Who ever bids the most, gets the home. In my area, it is not uncommon for bank owned homes to have several offers and to sell for above the list price. Also, you will have to submit a preapproval from a mortgage company or verification of funds if you are paying cash with your offer.