Making an offer that is unable to be defended is just not a good way to go. Any offer, whether or not it's for a regular sale or a distressed sale should be one that can be justified through records and other documentation.
The prospects of making a blind offer is likely one that will not bring good results.
The point to remember if you go this route is the offer price is a function of timing vs. value.
A seasoned Realtor will be able to show you in print all the surrounding properties that are similar (both available now and recently sold) so you will know before offering what a "fair" offer price is on any given home.
First thing: Only offer what you think the property is worth to you.
Generally speaking REO properties become more willing to look at lower prices after they have been on the market for 60 or 90 days.
Make an offer that YOU are comfortable with and see what they come back with. The worst thing that can happen is that they say no or counter at a higher price.
Hope that helped :)))
Technically you can offer as low as you want! Realistically you should offer a fair price. Put yourself in the shoes of the seller (even if the seller is Freddie Mac).
It all depends on how bad you want the property. If you are looking for a deal and you don't mind missing out on the property, go low. In that case I would say shoot for about 10-15% below asking. Anything lower may not be taken serious.
If you really have to have the property, I advise you to offer asking or higher. Why? Because usually there are multiple offers and you will want to be competitive.
You can make as low an offer as you want on a property. However, most foreclosures end up having multiple offers which sometimes includes investor offers. Offering low on a foreclosure can be a huge waste of time. The bank, for obvious reasons, will take the highest and best offer. A large percentage of foreclosures sell for more than their listed price in Central Florida. There is a chance you may get lucky and offer on a house that doesn't have any other offers. But the odds are certainly against you in that regard. The best thing to do is to work with an experienced buyers agent who can give you good strong advice on what kind of offer the bank is likely to accept. Let me know if I can help in any way. Click on my profile picture to get in touch with me.