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Asked by Hlep, Los Angeles, CA Wed Jun 20, 2012

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Answers

9
Kawain Payne, Agent, Seal Beach, CA
Wed Jun 20, 2012
When you say it is $50,000 over comps are you comparing it to other REO listings, short sales or standard sales.

Banks set the listing price for REO listings ,and since they want to sale them ASAP they usually have a BPO done which helps them determine a realistic list price.

The longer the property sits on the market the more money the bank looses. If you are interested in the property, you should have your Agent sbumit your best a highest offer.

If you get an offer in now, and they have nothing else on th etable they may be willing to play ball.

Best Of Luck to YOU!

Kawain Payne, Realtor
0 votes
Douglas Perez, Agent, Los Angeles, CA
Wed Jun 20, 2012
Why wait? Write it today or asap.
Are you buying this cash or financed?
Do you have an agent?

Let me know if I can help you.

Douglas Perez
(213) 375-8741
0 votes
Ron Escobar -…, Agent, Beverly Hills, CA
Wed Jun 20, 2012
Your experienced agent should be able to help you with that...
It depends on many things... condition of the property, listing agent, type of financing... closing time, etc

Best of luck!
0 votes
Sang and Son…, Agent, Los Angeles CA 90069, CA
Wed Jun 20, 2012
Make your offer soon as possible before you have competition which will happen quickly when they
do a price drop. Even if there isn't another offer make yours very clean and tight so they don't have many reasons to Counter offer. Often times, once you make an offer on a property that's been sitting for a while, out of the blue comes multiple offers.
0 votes
Jane Peters, Agent, Los Angeles, CA
Wed Jun 20, 2012
As the others are saying. Put in your offer right away. The worst that will happen is they won't answer, or they will counter.
0 votes
Brian Mitry, Agent, Sacramento, CA
Wed Jun 20, 2012
Make offer now. You can actually make offer lower than comps, if you are a strong buyer with good down payment the banks may take your offer and run with it. I am not saying they will accept, but there is a chance you will get at a discount. If you need someone to write offer for you feel free to contact me. I always help with my clients closing cost which will alleviate some of your up front out of pocket costs.

Regards,

Brian Mitry
0 votes
Diane McDona…, Agent, Los Angeles, CA
Wed Jun 20, 2012
Now! We're in a rising market, so if you really like the property, don't risk losing it over a few thousand dollars.

Diane McDonald
Prudential California Realty
0 votes
Bill Hooper, Agent, Los Angeles, CA
Wed Jun 20, 2012
If you really want the home put your offer in now, no reason to wait. The longer you wait the greater the chances of another offer coming in, then you have competition.

Good luck with your purchase!

Bill Hooper
Re/Max
bhooper@remax.net
0 votes
Oaks Realty…, Agent, Sherman Oaks, CA
Wed Jun 20, 2012
I would put the offer in asap. Waiting for a price drop risks getting more offers submitted and finding yourself in a multiple counter situation.
0 votes
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