This was discussed in my office with an REO expert of over ten years.
IF the property has been on the market more than 90 days they can be very motivated to "get if off the books"
If the property is hot less than 30 days they are looking at highest and best offer.
I remind buyers that an offer rejected to day could be an offer accepted tomorrow.
Just keep trying and be reasonable with your offers.
That's the insider scoop :)
The purchase price can always be negotiated. It depends on the property and its value and location. Sometimes a bank my have it priced low and their could be multiple offers in on it, in which case the bank will tell the agents to have their clients submit their highest and best offer. If a property has been sitting on the market the bank may be happy to get an offer and will review any offers presented. This is why you should contact a Realtor that is experienced and get you the best deal possible.
Feel free to give me a call, I will be happy to answer any questions you may have.
Keith J. Lawson
RE/MAX Affiliates N.E.
9237 Frankford Ave.
Phila, PA 19114
LawsonRE@gmail.com (email) http://www.keithlawsonhomes.com (web)
Member - AREAA Philadelphia Metro
Didn't you ever hear that everything is negotiable in real estate. I have sold many HUD homes (FHA) foreclures, short sales, and bank owned. All of them have something in common. My buyers never paid what the asking price was. There are some really good deals out there right now concerning forecloures. If you have any interest in seeing some foreclosures, please feel free to get in touch with me. I enjoy getting good deals in the foreclosure market for my clients. Good luck in your search.
Century 21 Alliance
If there are no other offers, price will be negotiable. If there are other offers and/or the property was just listed, you will not have too much leeway. If I was you, I would learn the market so that you understand value/a deal, and go from there......you will then notive "asking price" does not really mean too much.
Best of luck!
C: 612 396-0692
The simplest way to answer you question is, yes. No matter what type of situation you're dealing with, real estate is always negotiable.
Please let me know if you have any more questions.
Timothy M. Garrity | Brown McKinney Real Estate, Co.
Real Estate Professional & Consultant http://www.phillyurbanliving.com
email@example.com Email| http://www.brownmckinney.com/tim Website
215-825-2250 x 1007 Office | 267-879-2716 Mobile | 267-318-7004 Fax