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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.
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September 27 2013 - US
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Thank you
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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!
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September 27 2013
 
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