I am interested in buying a bank owned property. How do I determine what to offer for the property?
The house is in Williamstown NJ and has been owned by the bank since 5/08.
Answers (2)
Larry's answer is the only good one. You need to run a comparative market analysis, guided and interpretted by a good agent (BUYER's agent)
FIRST ANSWER
A trend analysis from a realtor is best. You can do some of this yourself online thru Zillow or Trulia but they are not so efficent. so be careful. You can get a good idea just from solds in the area. But a trend analysis is almost science. Nothing forecasts the future economic.
Are you working with a realtor?
Larry Sarlo
Weichert Realtors Turnersville
609-868-1171
http://www.lsarlo@comcast.net
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With home prices dropping weekly, what is the average % off the offer?? is 20% off too low to start?
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