Welcome to the world of distressed properties. In some cases, short sale owners and agents price it lower than market to get offers and then the bank wants market price.
And sometimes foreclosure sellers also lowball the listing to try to get multiple offers and bring up the price.
Both these tactics often work, but often cause buyers more problems. This needs to be kept in mind when you are looking.
This is why you need to work with an agent. The market right now is too tricky. Buyers need to have an informed expert helping them and need to have a tough skin. There are a lot of homes out there. It may take a few before you get it. But it is worth it.... more
Joe it all depends how bad you want the house. If you want the home make that bid, if it goes to foreclosure it could get snapped up by someone else at auction or the bank can buy it back, it will then take quite a while for it to run through the system, it will be assigned to an asset manager who will assign it to a local broker, it will be cleaned, appraised then placed on the market. So if it sis important to close quickly act now, if not and it is worth a risk losing it to save some money then wait. Good luck with yoru search.... more