Profile picture for rcyarbrough

If the house is a foreclosure what percent over the next best bid does the bank look at as the bette

My son found a wonderful home that has been sitting empty for over 250 days. The bank lowered the price drastically and now there are 4 other offers. It seems as if there is a magic amount( Percentage)  over the 2nd best bid to make my son's offer the strongest.
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 27 2013 - US
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

Answers (2)

Profile picture for rcyarbrough
Thank you
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 28 2013
I don't think anyone will know what the banks magic number will be.. Banks like good, clean  solid offers, the less contingency's the better. have your Realtor pull comps to find fair market value. pay the most that you wouldn't be upset if you lost the home if someone outbid you, just make sure that the comps support the value. Your Realtor should be able to guide you as well

Hope that helps.. Have a great weekend!
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
September 27 2013
 
Related Questions
Why does a buyer have to pay a large short sale negotiation fee?
Profile picture for paulschulte
Latest answer by paulschulte
38 minutes ago | 6 answers
Experience with HomePath properties? Need some advice!
Profile picture for HighDesertAgent
Latest answer by HighDesertAgent
5 hours ago | 4 answers
How to make a bid
Profile picture for Craig Burke
Latest answer by Craig Burke
16 hours ago | 2 answers
Mortgage Rates
 
Be A Good Neighbor

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.