There is a home that has been reduced from 199K to 139K on a forclosure over 6 months. Is there a slim changes the bank would accept 125k for a offer?

Asked by Mrstexas, 75063 Tue Jan 3, 2012

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17
Bruce Lynn, Agent, Coppell, TX
Thu May 17, 2012
Depends on the house.... for most houses it is not a problem and in fact we recommend you get an inspection.
0 votes
homebuyer123, Home Buyer, Irving, TX
Thu May 17, 2012
can we get inspection done for this house?
0 votes
Bruce Lynn, Agent, Coppell, TX
Sat May 12, 2012
We should try it.
My office is in Coppell.
Call me if you would like to see inside or write an offer on it.

I don't see any properties for sale currently at that price.
You can check this link to see if perhaps the price has changed again.
http://www.metroplexhomesalesinfo.com/listings/propertytype/…
I also don't see any foreclosures currently with that price drop. I have a feeling if the price was that good it is under contract already.

You can also give me the address and I can check the status.
0 votes
Pat O'Reilly, Agent, Irving, TX
Sat May 12, 2012
I would submit the contract and see what they do. No reason not to send it in.
0 votes
Lisa Montes, Agent, Carrollton, TX
Fri May 11, 2012
Submit your offer and find out! The worst the bank can say is no and you start negotiating from there! Good Luck!

Lisa Montes-"Your Home Retriever"
http://www.yourhomeretriever.com
817-201-7388
yourhomeretriever@gmail.com
0 votes
Shae Nault, Agent, Coppell, TX
Thu Jan 5, 2012
I live 2 blocks away from the house- let me know if you want to take a look at it before writing up the offer.
214-893-6624
0 votes
Cameo (ka Mee…, Agent, Dallas, TX
Wed Jan 4, 2012
There is a possibily if you don't ask for any additional concessions.
0 votes
Marc White, Agent, Charlotte, NC
Tue Jan 3, 2012
I agree with TINA...GO FOR IT. I would offer less than that to start with, and if you have a good quick agent, you can give them permission to offer more if need be.

Good Luck, that sounds exciting.
0 votes
Tina George…, Agent, Dallas, TX
Tue Jan 3, 2012
I say go for it !!!!!!!!!!!! You can't miss something you never had . So if the answer is no then God has something better for you !!! Nothing beats a quitter but a trier !!! You have everything to gain !!! If you need my help call me my name is Tina 214-994-8916
0 votes
Dallas Texas, Agent, Dallas, TN
Tue Jan 3, 2012
I own property in Coppell happy to assist you .

No Realtor can provide a professional opinion UNLESS all particulars reviewed. We can't talk or make promises on the behalf of other professionals

Direct Link Coppell Homes For Sale :
http://www.lynn911.com/Web/AR287090/CustomContent/index/5055822

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor
972-699-9111
http://www.lynn911.com
0 votes
James Mayo, , Coppell, TX
Tue Jan 3, 2012
I wrote an offer for an investor for $120,000 and it was turned down
0 votes
Pat O'Reilly, Agent, Irving, TX
Tue Jan 3, 2012
I would do this. Normally these lenders will decrease the price until it gets a contract. Most times they will not accept an offer $14000 less but the lender may be to the point where they want to unload it. I have worked several foreclosures in the area. Let me know if you need my experience.
Web Reference:  http://patohomes.com
0 votes
Heaven Hagos, Agent, Dallas, TX
Tue Jan 3, 2012
There is always a chance, you just need to make an offer that you feel comfortable in. Good Luck!
0 votes
Rob Mitchell, Agent, Coppell, TX
Tue Jan 3, 2012
Banks rely on valuations from Realtors and appraisers to determine their estmated recovery on REO's. Asset managers and agents get scored (and paid) on the accuracy of these price opinions and the time it takes to finalize a contract (days on market). Therefore, your negotiating power can improve on properties that have been sitting longer, but as with all real estate, the value is determined by location, condition and interest\activity level(supply and demand). Be sure to have an REO expert evaluate the home to provide an accurate ARV, repair estimates and properly lead you through the REO transaction.
0 votes
Bruce Lynn, Agent, Coppell, TX
Tue Jan 3, 2012
Let's go for it.
Have you been inside? I have. It's in pretty rough shape.
It will also likely need cash offer, due to condition I don't think we can get financing on it.

In my opinion good shape for the value at this point.
0 votes
Kim Nwachukwu, Agent, Irving, TX
Tue Jan 3, 2012
There is always a chance, but Coppell is popular, so if they've reduced it to $139 now, and $139 is the right price for the condition it's in, then someone will purchase it at $139 or close to it.
0 votes
Dani Hanna, Agent, Dallas, TX
Tue Jan 3, 2012
Sure there is, but the only way to find out is write an offer. Good luck!
0 votes
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