It's depends on the listing price, some listing prices are low or under the market value and will attract multiple offers above the listing price. So to try and come in under the listing price will not be successful. The market dictates the price the home will sell for not the listing price or a percentage of the price higher or lower.

Hi Chuck,
Some pre-foreclosure have multiple offers. I listed a pre-foreclosure and my client accepted an offer that was $20,000 over the listing price.
And, it is actually up to the beneficiary (sellers' bank) to counter, accept or reject an offer.
If there is a second, they have to approve the sale as well. And, would like some of the sale proceeds as well.
There is more than meets the eyes (Transformers).
After 2-4 months they might have a negotiator assigned. Another month to review the pre-forclosure packet. Another 2-3 months to get a broker price opinion and approval letter.

Then after all those months your initial offer of $XXX,XXX might not even appraise for that value. And, another month to revise the purchase agreement to adjust the new value if it didn't appraise.

Hope this helps,

Jes Sierra, B.Sc.
Realtor®

If you are always willing to walk away, I would say 80% would be a good place to start.

Hello Chuck,
Contrary to public perception, most short sales and repos are OVER bid now. There are so many potential buyers on a given property,that the properties almost always go for substantially more than the asking price.

If you have any other questions, please don’t hesitate to call or visit our website shown below.

Pat Palmer-Broker/Realtor
Forefront Real Estate
Forefront Mortgage
Lic Thru CA DRE #01013510

154 W. Foothill Blvd #A308
Upland, CA 91786

Phone: 909.286.1301
eFax: 909.912.8002

patpalmer@ffhomes.net http://www.forefronthomesandloans.blogspot.com

The asking price has nothing to do with what would be acceptable. It's all about what the Value is of the home, which is established by most recent closed comparable sales and how many offers are obtained. When working with a Realtor they should be able to help you make that determination.


Good Luck
Diana 909-945-5763