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if a short sale is listed at l39,900.00,what should I bid on it?

there is a house I am interested in that is listed as a short sale at 139,9i00.00.  What do you think is a good bid?
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October 19 2013 - Clermont
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Answers (5)

Becky

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October 21 2013
It all depends on how the house is priced to begin with.  It could already be competitively priced.  It may already be a price set by the bank.  Without knowing more details about the house and where it is located, we can't really give you a true answer to that question.  When purchasing a home, you should be working with an agent that can help guide you through the process.  I live and work in the Clermont/Davenport area, so if you need any assistance, please feel free to contact me.

Becky Burke
Morris Williams Realty
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October 21 2013
You should be working with a buyers agent who will assist you in determining the fair market value of the home. 

Most times the home is being priced less than what is owed to the bank.

If the home is in good condition and priced the same as comparable sales you may wish to offer the sale price.  Your Realtor is in the best position to help you determine that.
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October 20 2013
First understand where that price came from. The bank, which must approve any sale, did not set it. The owner set it as bait for an offer. They set it low to encourage a buyer to write an offer and then they will show it to the bank who will decide to accept, ignore or counter it. Since the bank is going to lose money at the listed price or above it, the bank will most often counter with a higher price or ignore it while they wait for a better offer to come in. Going well below the listed price will usually never be accepted.
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October 20 2013
Offer what you think the home is worth and/or what you want to pay for it.  There's no good answer to this question absent details about comparable homes and the condition of this one.
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October 19 2013
 
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