I have been shopping for REOs too. When I found one, I would calculate how much the price is lower than the fair market value, what's the monthly budget, what is the potential, then offer the price I feel comfortable.
In addition, I do not negotiate much. I give a low bow to test the water first. If the bank want to walk with me, I will provide the price I really want. Otherwise, walk away.
Do NOT listen to the realtors.
If there are already multiple offers there, I would not compete with them.
In addition, I do not negotiate much. I give a low bow to test the water first. If the bank want to walk with me, I will provide the price I really want. Otherwise, walk away.
Do NOT listen to the realtors.
If there are already multiple offers there, I would not compete with them.
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