Brenda,

If the the home you want to bid on is not an REO, then you are not going to be able to get it for the same price. REO properties typically are in bad condition and need a ton of work. You are not going to get a regular well-maintained property for an REO price. It's apples to oranges. If however, the property you are bidding on IS an REO, then it sounds like you are in business.

Good luck.

-Marc

Marc Paolella
Relocation Director
Member, Worldwide ERC
Licensed Realtor NJ
Licensed Appraiser NJ & NY
Century 21 Joe Tekula Realtors
Agent of the Year 2008
Owner: Sands Appraisal Service, Inc.
Phone (direct): (973) 584-4235
Search the Garden State MLS: http://www.marcpaolella.com/SearchMLS

Are you working with a realtor? You seem to be uncertain about things you should have confidence in when making a bid.

Please take the advise of others and get a realtor to help you. Not sure why you are so close with such uncertainty. We have been talking with you for some time now and it is very difficult to speak about specifics without all the info.

I indicated before do not throw an arbitrary number to bid. You must have the facts.


Good Luck!

Larry Sarlo
Weichert Realtors
609-868-1171 http://www.Lsarlo@comcast.net

Hi Brenda,

Not knowing much about the area or the condition of the homes, I'd say you are on the right track based on the comps you mentioned. Hire a local realtor to look into the situation and have him/her represent you and submit an offer. You might find you can offer less than the 240k.

Hope this helps.