Most REOs I have seen are slightly under market price. Also, no time constraints if you want to be considered. The asset managers are all over-worked and their departments are short staffed.
David Krecker, BSBA, SRA, MRA
Centuryside Real Estate Inc.
Broker/Owner/State License Appraiser
Serving the areas of Orange County, Los Angeles County, San Bernardino, and Riverside.
I have several REO's and I have never had any agent submit an offer with time constraints.