Ryan Beesley

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foreclosure offer Q.

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Zillow estimate for 460,000. asking price is 320000. will 300000 be too low of a offer or can i go to 290-280K. home is in decent condition needs a little of work but nothing major.

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December 27 2008 - Bel Air

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Connie Wildasinn, "pwildcon"
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Connie Wildasinn, "pwildcon"

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Hi CMV138,

As your Realtor for a value on the property, sometimes foreclosure listings are actually in an auction value range and go for over asking... all depends on the property... some agents run them very close to actually value...(keep in mind the banks have done 3-5 CMA's on the property before listing) ... On the same hand you have nothing to loose... submit the offer and see what the bank does, if you get no answer... you bid too low... either resubmit or move on the another property...

If the home you saw on zillow really was worth 460 and bank has it listed at 320... most likely it will over bid... I have found Zillow to be out of wack on most values... it is a very very very general range they list.

good luck

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December 27 2008

Vanda Greenwood, "VandaG"
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Vanda Greenwood, "VandaG"

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I assisted buyer in getting properties under the price the bank is asking.
Good credit and a quick close and a good down payment make a huge difference.

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December 29 2008

jamhie
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jamhie

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DO NOT over bid, agents just want to close the deal.

The bank is very very happy and very lucky that they have an Good Credit Buyer thats interested in their property.

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December 28 2008

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Question what are the pros and cons to buying a banked owned property?

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Guide Foreclosure Overview

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Question what are the pros and cons to buying a banked owned property?

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Guide Things to know when buying a foreclosed property

Guide Foreclosure Primer

Guide Foreclosure Overview

Guide Foreclosure Eviction Techniques

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