As some of the other Agents have said, Banks are constantly monitoring the market. I have Listings that are Bank owned and I have to submit new data on the current market every 3-4 weeks. That data includes, number of showings on the property; why the buyers didnt buy; other properties that have come on the market, as well as, any properties that have sold.
So they are VERY in tuned to the market.
I have not seen ANY of my clients get an acceptance to a Low Ball offer, and in a couple of instances, they have lost the property, because while they were Low Balling, other offers came in that were closer to asking...so they had to start all over again on another search.
I noticed that you are in Bagdad AZ. I just wanted to let you know that I live in Wickenburg, and lived in the Phoenix area for 17 years prior to moving here 9 years ago. So if you'd like assistance in the Wickenburg area or the valley, please feel free to contact me.
Many of the foreclosed homes are priced right! Any of my buyers that low ball them are missing out. After checking the comps and the property condition only then would you be able to decide a resonable offer.
If a buyer is trying to get to much of a deal in this market they will only find out that they have missed out on the great buys now!
Contact an agent for their support/
Speak with your buyers agent determine how to submit a winning bid, Each property stands alone how to submit an offer. difficult to state unless entire research is completed on home, tour of property.
When determing an offer to buy a property, you must consider many things, including but not limited to:
- days on market
- date of most recent price reduction
- condition of property
- location of property
- type of sale (REO, short sale, private seller, etc.)
- terms & conditions of your offer
- recent comparable sales
Also, lowball offers rarely get considered, much less accepted, unless you provide facts to the seller to back up your reason.