offer whatever you want. The bank will counter regardless. Do not rely on a CMA from any Realtor because in today's lending world it is all about appraised value. The CMA is not appraised value. Make sure you work with a competent Realtor who can give you real time information. I own a mortgage company as well and I promise you that in today's lending world the only value that is relevant is the lender's value after a review of appraisal. You do not have to order one, just get advise from a Realtor who knows the difference.
My clients look at foreclosures as part of their buying strategy and I can tell you this. If in fact the bank has lowered the price over time then they may reach a certain point where their net sheet on the transaction may or may not allow them much room on the negotiation. If the property is in highest and best then you are in a bid situation with other buyers. I find that this happens about 40% of the time . The best thing to do is make the offer and wait for a counter. Regardless of your offer the bank will almost certainly counter so do not make your best offer up front. Believe me when I tell you that if there is competition they will let you know. The competition may also be an incredibly low offer so you may be the highest bidder and not know it. Stick to your guns on your original offer and then decide your offer strategy after the first counter.
This is the latest and greatest that we are now dealing with in Real Estate. You can look for another property or negotiate the transfer of the lease from the current owners to you. The reality of this is that this will continue as our market is being flooded with Landmen who are leasing these rights for Shale.
your dollar range will get you very good quality in Keller. If you want information on Keller then you can go to my website where there are custom searches on the home page for Keller as well as school and city information. You may do this without logging in. If you want information about Keller New Homes there is a Keller New Homes by Developer page off the fronrt page of my website as well.
it is not illegal for the agent you are associated with to inform you of a material fact as long as it IS A MATERIAL FACT and not to induce you to offer. It should be clarified by your agent that there is no way to determine what the other offer is and in fact the disclosure by the listing agent of multiple offers is fine as long as the other offer exists. Be aware that in most situations the offer may in fact exist but is not always accepted by the seller. You should offer what you feel is apprpriate and stick to it. You should listen to the advise of your Realtor unless you feel that there exists an integrity issue. If that is your feeling then you should find a Realtor that you trust and go with that individual.
Profile
Thomas Brewer is a member of Trulia Voices:
Company Info
Trulia Links
Real Estate Professionals
Residential Real Estate
San Francisco real estate | New York real estate | Los Angeles real estate | Orlando real estate | Miami real estate | Philadelphia real estate | Phoenix real estate | San Diego real estate | San Jose real estate | Chicago real estate | Arizona real estate | California real estate | Florida real estate | Illinois real estate | Massachusetts real estate | New Jersey real estate | Pennsylvania real estate | Texas real estate | Other local real estate | Home price maps | Real estate community | U.S. Property records
Legal
General Terms of Use |
Advertiser Terms of Use |
Trulia Pro Terms of Use |
Privacy Policy |
Community Guidelines
Copyright © 2008 Trulia, Inc. All rights reserved. | 
Fair Housing and Equal Opportunity