Answers (3)
- wordsmth
- Contributions:394
In general, slightly below its true value. The asking price has nothing to do with its value. Get your Realtor to do a CMA on the property.
However, how much time are you wasting by making an offer? An hour? Two hours? After you get the CMA, see how low you might reasonably offer. If that's still above your max price, then just offer your max price. You never know . . . but you'll never know if you don't make an offer. But the "wasted time" is minimal.
Hope that helps.
However, how much time are you wasting by making an offer? An hour? Two hours? After you get the CMA, see how low you might reasonably offer. If that's still above your max price, then just offer your max price. You never know . . . but you'll never know if you don't make an offer. But the "wasted time" is minimal.
Hope that helps.
- Ofe Polack, "Ofe Polack"
- Contributions:3408
Why don't you call Craig who has so kindly offered assistance, he lists for Fannie Mae, so he will be able to tell you the windows they have for price reductions, owner occupancy, etc. Ask your buyer agent to make reference to the flood insurance when he/she sends the offer. Who knows....you may get it!
- Craig Wallengren, "Craig Wallengren"
- Contributions:4
Thats a tricky one to answer. Typically the REO's are discounted already. It is tough to discount a discount. It is really a case by case analysis on the REO's. I list REO's for Fannie Mae, GMAC, and a few others and I can tell you it really depends on the situation, are there multiple offers, how long on market, etc... If you have a question regarding a particular property, please give me a call and we can evaluate the situation. I hope that helps.
In general, how low can you offer on an REO property?
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