Alerts are a great way for you to stay up-to-date on things you care about. We will email you a list of the new items that match your criteria at a time of your choosing.
I would not suggest this as an effective strategy. When dealing with REO properties, most banks have internal guidelines that set a certain amount the asset management company may consider. In many cases, if your offer doesn't come in at or above this set amount, your offer will not even be submitted for review. Adding the terminology you're suggesting, you're probably just wasting your time. If you didn't get a response to the initial offer, then chances are you came in under their set amount and will only continue to be ignored until you submit a more acceptable offer.
The only way to decrease your offer by 2% every 30 days is to cancel each offer, write a new offer, and submit. You can't write that kind of terminology into a contract. Ask your Realtor to find out the market value of the property so you know how realistic your offers are.
... and, it's free and anonymous
Zillow® Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy
How to force the bank's response on a REO?
sponsored by
nvchaz
Contributions: 1617
View full profile
Is this an effective strategy to drive a response from them? I am low-balling them, too, and want 3% back
If you find this content is in violation of our Good Neighbor Policy, please let us know and we will review it.
We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.