Zillow's Foreclosure Estimate vs. FMV
Hi - I am following on two properties in Plano, TX - one that has gone through foreclosure steps and another that is in the pre-foreclosure stage. In both cases, Zillow's foreclosure estimate price was 20%-25% lower than the fair market value. But when I talk to realtors, they claim that is a bogus estimate and that it is close to impossible to get that kind of discount. In fact, they claimed that getting a small discount in this market is unlikely. I am wondering how your experience has been with these kind of properties.
Best Regards,