Hi Oc,

It has been my experience that if the Corporate home or short sale is well priced then it could make sense to offer more than asking price, specially if there are other offers on the table. Ask your Realtor to find out if there are other offers and if any are above asking. Good luck. Leonardo

First if you are working with an agent they might be able to find out if there are any offers already on the property. If not the agent should be able to help you determine what the value is. On a foreclosure you are buying the property as is so you want to do a home inspection to know what might be wrong with the home. The main thing is they are going to want to know that you can get a loan. So you will need a letter from your lender stating that you have your financing in order. There are many foreclsoure out there that are going for under list price. It just depends on the home and others that might be interested in it also. Good way to tell is the number of agents cards you might see sitting in the home that have shown it. I take a buyer to one home that had 10 offers on it. You know that home is going to go for over list price. While others keep coming down in price until someone makes an offer. Good luck

OC,

This is commonly done on foreclosure opportunities that represent the right home at the right price when buyers feel there may be multiple buyers interested in the property.

Unfortunately, we don't really know for certain if it a good idea until we are told the property went to another buyer that offered a higher amount for the home.

This depends on your level of desire for the home.

Good luck