Confer with your buyers agent who has all the particulars would be the expert determine how structure best sales offer for all parties . Low ball offers are usually not accepted.

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Looking at this specific market - Ample Lending owns this home, and they have sold two others they owned here for full asking price. Both were smaller homes but the lowest price was $182,900. I'm relatively sure the buyers of these homes made lower offers to begin with, but the seller held firm. Although they've reduced the price on this particular house since they've owned it from $223,900 to $214,900 - given their history, I would not expect much negotiating on their part. As someone else has already said, there's no harm in trying, but I wouldn't get my hopes up. If I can help you in structuring an offer on this, or any other home, just let me know. I can also put you on my auto e-mail list to receive notice of any new foreclosures in our area, or price reductions.

That's a great question that is always asked. There are a couple of things to keep in mind. First, how much do you want (this) house versus the other houses in the neighborhood, location, size, feel, quality, etc? Would you be upset if you lost this one due to a higher price coming in and you losing the opportunity to by the house you really wanted? All of these are the emotional reasons to consider the bid you put on a house.

Next is the question of value. The original list price is not what matters. What matters is what the current market value is for a similiar or comparable (comp) house in the neighborhood is. You need to have a licensed real estate professional that can run a list of "comps" in the area to provide you with "fair market value". This is what the bank and/or mortgage lender is going to look at. I have seen opportunities where the bank or lender will accept an offer that is within 10-15% of the "fair market value" but not usually much lower.

It (may) not hurt to offer such a low price, on the other hand, you could miss an opportunity if you really like this particular house. I recommend you find a local real estate professional you feel you can work with and have them prepare a market analysis for you in order to place a bid that is likely to be accepted and/or at least receive a counter-offer with.

If I can be of any further assistance or can refer you to a local real estate professional, please do not hesitate to give me a call or email me.

You can learn more on my websites:
http://www.TimDenboHomes.com
http://www.ForeclosurePreventionResource.com


Best of luck,
Tim Denbo
Keller Williams Realty
925-549-0714 mobile
Tim@TimDenboHomes.com

Banks are accountable to the extent of real estate activity in the local market at the time of the sale. Their assigned asking prices should be directly related to the most recent appraisal.

An offer that is $64,000 below the bank's asking price will probably not get you much attention. The bank is likely to hold out until it feels the winning offer is a fair offer and it is an accurate reflection of the current market trend.

Additionally, it would be advised to work with an through a real estate professional who's fees should be covered by the bank.

Our advice....no harm in trying BUT....don't go it alone and don't get your hopes up!