| Name:
Phillip
Title of Question:
Buying a REO Property |
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Question: Hello, I have my eye on a REO property that needs a bit of work such as gutters/serious landscaping front and rear/cosmetics inside such as new appliances/sheetrock/paint/bedroom doors etc.If the REO is listed at $349,000 what is a general beginning offer on such a property? Is there a rule of thumb as to what to offer? How do I find out what is owed on the property?rnThank you for your time |
Post Your Answer To The Question Above:
Name:
Josh
| Date: November 24, 2007, 4:32 pm
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| Answer:
I recently offered 10% below asking price on a REO that needed a little love (probably 5% of the asking price). They rejected it. I don't know whether to counter. My general feeling is that they can sit on their thumbs and twirl while they wait for someone to offer full price. |
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