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Answers (9)
- Sharon Bishop, "SharonBishopRealtor"
- Contributions:211
Yes. Homes are negotiable. Foreclosures are priced very well initially though in comparison to there surrounding homes for similar square footages and location
- Linda Strasberg, "L Strasberg"
- Contributions:2315
Foreclosed homes are being released gradually...their objective is to get offers at slightly above list.
Much like the builders released lots by holding lotteries to create increases in prices and drive up demand...same game.
Much like the builders released lots by holding lotteries to create increases in prices and drive up demand...same game.
- Ryan Halset, "RyanHalset"
- Contributions:730
Yes!
- Dianne Garrett, "yorhomeconnection"
- Contributions:15
Always! Everything is negoitiable. However, if there are multiple offers on the property, you should present your best offer because you probably will not get a second chance.
- Michelle Melton, "Michelle Melton"
- Contributions:96
Everything is negotiable. Just amke sure you have a good realtor on your side, reading all those addendums to the contract and fine print the bank likes to throw at you.
- Chirag Shah, "Gatewayteam"
- Contributions:12
All prices can be negotiable. It depends on the specific situation.
- Nathan Wolf, "natewolf"
- Contributions:1825
It depends.
Some foreclosure listings I have had are the "starting point" and have had HIGHER than list price offers.
But in general, a reasonable offer on a foreclosures, about 80-percent of current market value, is what the banks are wanting. But often they will take even less. So the only way to know is MAKE AN OFFER.
Some foreclosure listings I have had are the "starting point" and have had HIGHER than list price offers.
But in general, a reasonable offer on a foreclosures, about 80-percent of current market value, is what the banks are wanting. But often they will take even less. So the only way to know is MAKE AN OFFER.
- Jay Lotoski ABR, SFR, "The Property Aces"
- Contributions:365
You can negotiate the price of any property, but that doesn't mean you are going to be the one who gets the home in the end!
Make sure you have a REALTOR complete a comparative market analysis for you, banks are looking to get a fair market value for the home taking in to account the condition of the home. They have been known to start the price low to ensue a bidding war.
Here is a link that has some useful information on foreclosures for you!
Make sure you have a REALTOR complete a comparative market analysis for you, banks are looking to get a fair market value for the home taking in to account the condition of the home. They have been known to start the price low to ensue a bidding war.
Here is a link that has some useful information on foreclosures for you!
- Enrique Tejera, "DockEstates"
- Contributions:243
In general, yes. However the discount amount depends on the stage of the foreclosure process. The main stages are regular sale, short sale, foreclosure auction and bank owned (REO).
You can make offers below asking price at most any time. However the banks are striving to get fair market price for their properties. Ask your Realtor to provide you with a fair market price estimate for the property and use that amount as a bench mark price. Many lenders will consider 90% of fair market price but the lower the offer the harder (and probably longer) the purchase process will become.
You can make offers below asking price at most any time. However the banks are striving to get fair market price for their properties. Ask your Realtor to provide you with a fair market price estimate for the property and use that amount as a bench mark price. Many lenders will consider 90% of fair market price but the lower the offer the harder (and probably longer) the purchase process will become.
are the listed prices negotiable on foreclosures?
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