Aubrey,
Comps are the only way to set price, and something isn't a comp just because it's an REO. As a real estate professional I take location, size, condition, etc. into account when I'm determining if properties are comparable. So an REO that is in good shape can have comps that are regular resale homes and vice-versa.
The difference in making offers on an REO versus a resale home is there may be a wait, and there may be other offers coming in while you wait. But once the offer is accepted I've found the transactions many times go smoother, since you are buying the property "as-is" we either make it past inspection and appraisal, or we walk away with our earnest money and move on to the next one.
Give me a call so we can discuss your particular needs in detail. I'd love the opportunity to earn your business.
John Keene, EcoBroker
Keller Williams
http://www.livegreen-denver.com
303-547-7578
* call today to learn how you can live carbon free for 3-years!
- Mon May 19 2008, 15:04