Best of luck to you in your home search and purchase.
The only way a pre-foreclosure house can be sold is as a "short sale", meaning the value of the house in less than the loan. The seller must qualify with a hardship for lender approval. Lenders are looking to get closer and closer to market value. If the house was priced right, then there is propbably not much wiggle room. Next question is are there others making offers? If so highest wins. Cash will usually win over financed if the offers are the same or close. If not, then which ever nets the bank more will be the winner. Even with a full price offer, if the bank feels the sale price is below marke,t they will come back with a higher counter.
I feel an informed client makes the best decisions regarding their real estate needs. Let me know if I can be of assistance.
Broker Associate, GRI, SFR, NHS
Real Estate Consulting, Marketing & Sales
Prudential Tropical Realty
2539 Countryside Blvd #3 Clearwater, FL 33761
as a buyer, you can offer whatever you would like. Unfortunately, in the current sellers market and if the home is nice and you really want the home, anything but list or higher will not get the home. Currently, there are mutliple offers on most homes, especially those that are nice, which puts you in a bidding war with other buyers.
The lenders have an amount they must get and whether you are financing or paying cash does not matter. It depends on how well the property was priced. Sometimes properties are priced lower than the lender will accept and the price will go up once appraised. If an offer comes in that is so low sometimes the bank will not even respond. Knowing the value of a home before making an offer is the best way to go. If you need any help, please feel free to email or call.
Century 21 R E Champions