What To Offer On An REO
I am placing an offer on a REO...
But how deep do you go.
Property is in a nice area and should sell fast but the bank is totally off the mark in the prices. Its been sitting on the market for 80 days and only had 1 offer but the guy walked once he heard their counter.
Is there a general rule some investores follow.
ie, .70 on the $ or .50 on the dollar.
What would ou offer?
Andrew.
[ Edited by shakenbake on Date 06/16/2007 ]
But how deep do you go.
Property is in a nice area and should sell fast but the bank is totally off the mark in the prices. Its been sitting on the market for 80 days and only had 1 offer but the guy walked once he heard their counter.
Is there a general rule some investores follow.
ie, .70 on the $ or .50 on the dollar.
What would ou offer?
Andrew.
[ Edited by shakenbake on Date 06/16/2007 ]
Comments(0)
as low as you can go.
Bank here in CA seem to way out of line w/ their pricing.
I would figure what would be a good byr, and them offer a little below that hoping to get it for your price.
I see what you are talking about,,,It seems like the market has made the correction in my area,,,except for the banks...Their still holding on....
thanks