There are numerous factors that you should consider when starting to negotiate. 1. Do you really want the house? If you do then factor in the overall condition of the property, amount of money necessary to be livable and safe. The reason I suggest this is that, the banks has no doubt already requested this from the listing agent assigned tot his property and they have an idea of what it is going to take to get this property up and running. The length of time that it has been on the market factors is as well as how you structure the offer. If you try to get the moon and the stars, it will only happen if the property is bordering on condemnation.
Going back to my original question of whether or not you really want the house. If you do, this time, then make a good offer that you would satisfied with and enjoy a more pleasant closing

Curtis,

Do you have an agent? Coming in at 55 on a bank owned property that I think is listed for 79,000 is not the worst thing in the world. How are you buying the home? Is it a cash deal or do you need a mortgage? Email me at c.lewis@cbhearthside.com and I will give you my thoughts on where you should start to end at 70. I work with a couple of local investors in the Easton area, that buy up foreclosures very often in this area. Let me know, and good luck if I do not hear from you!


Cliff Lewis
610-509-9834