I see many houses on-line where they ask you to make an offer before they get foreclosed on but their listing price is often higher than of the comarables…what is the deal? and if they actually get foreclosed on, how much can you negotiate with the bank, let’s say on a house that is currently listed for 500k? From what I red online the bank will try to recoup the amount of the loans secured by that property, but usually those loans total more than the house is worth on today’s market…I am trying to find out, if anybody knows, how much of a price reduction I could get buying an REO or a foreclosed property.

thank you!

Related Blogs

Tagged with:

Filed under: REO Lists

Like this post? Subscribe to my RSS feed and get loads more!