This listing went pending in 8 days. If you would like to see the official MLS listing showing status, etc, just shoot me an email.
As a rule, everything in business is negotiable and you can make any offer you want. More specifically, here is the scoop on how the bidding on REO's usually works...
Some REOâ€™s are priced artificially low when they go live hitting the market, to stimulate a multiple offer bidding warâ€¦ and in those cases, if you and your agent have been truly watching that micro-market like a hawk, youâ€™ll know the exact amount over list price you can offer to still get good valueâ€¦ and you should never sweat losing a deal to another bid higher than you feel comfortable making after doing due diligence.
That said, many REOâ€™s do make it past the first 10 days or soâ€¦ and then a few weeks, and then a few months. For these REOâ€™s we can rest assured that the bidding war strategy is no longer in effect, so we can under-bid and, as a rule, the more cash and less borrowed funds you are using to close the deal... the bigger hammer we can swing on negotiations.