Home Buying in Schuylerville>Question Details

It, Home Buyer in Bronx, NY

What percentage of the asking price is a reasonable offer that is usually accepted by a bank on a short sale or bank owned forclosed property?

Asked by It, Bronx, NY Fri Oct 23, 2009

Are there any rules regarding this matter? Thank you.

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Answers

1
No rules or guidelines.
Recommendations: the bigger the down payment the better the offer. Cash is always king but bank looks for net. Sales price minus expenses.

If you like it, others will like it too.

Depends on market. property, supply, buyer...

Percentage: 100% could help, 120% might get your the property.

But one rule I tell my clients, if you like it, write, do not wait. I have seen homes gone in hours. Even on Friday when it suppoes that banks are ready to close the day.

Buy!

Benito.
0 votes Thank Flag Link Fri Oct 23, 2009
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