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Offer Suggestions

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Anonymous
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Offer Suggestions

Am thinking about making an offer on a repo'd house and was wondering if anyone had any thoughts about how much lower I should offer than what is being asked. The bank has the note and is selling it through a company. Has anyone had experience with making offers on this type of deal? Any advice would be greatly appreciated.
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ShanetheMortgageMan
Super Contributor

Re: Offer Suggestions

I don't have any experience actually making an offer on a REO home, but I would suggest offer whatever you want to offer.. if it's lower than what the bank wants to sell it for they will counter back to what they will accept.  You can keep on going back & forth until you agree on a sales price.  Don't worry about offending the bank with a low ball offer.
Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
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