Banks are not willing to loose money in big chunks like that, and if the BPO says $360,000 I wouldn't think they'll give a 85K discount.
Although you never know!.. When the appraisal has been done and is it a cash deal?
You should probably hear something from them by now, but if you don't I wouldn't put all my eggs in one basket and keep looking at properties.
Good luck to you either way, and let me know if I can be of any assistance,
Prudential California Realty
516 5th Ave,
San Diego, CA, 92101
I just had a bank counter an offer to 360k and they accepted 340k. It's all about negotiation...
MY TEAM HAS OVER 100 PRE-LISTED FORECLOSURES AND WE ARE THE LISTING AGENT! - Please Email Me If you Are Looking For A Foreclosure In San Diego. Over 30 of them are FHA/VA Approved and Fully Renovated!
Hope this helps!
Patrick A. Hale, CDPE, RSD
Short Sale & REO Listing Agent
"The Best Way To Predict Your Future Is To Create It"
Keller Williams Realty
Toll Free: (866) 538-6057 I San Diego: (619) 309-7883
Mobile/Text: (858) 539-6803 I DRE License # 01777558
Office: 4370 La Jolla Village Drive, Suite 400
San Diego, CA 92122
SHORT SALE EXPERTS WITH A MISSION TO:
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If You or Someone You Know is in Financial Distress Visit: http://www.SDRealEstate360.com