Updated almost 4 years ago on . Most recent reply
Forclosure listed on the MLS
Hello all im just getting into this but had a quick question as alot of you have really good knowledge. If an agent lists a foreclosure on the MLS for a bank do they generally list for their money back only or is there room to still be able to haggle. i would assume they would price high to try and make money on it also. Thanks in advance for everyone's feedback.
Most Popular Reply
The fact that it was a foreclosure (and probably now REO) neither adds nor takes away value from the property. Generally, it would be put on the MLS (open market) for whatever the comps for such a property would / could command. As @Russell Brazil has pointed out.....there's no set formula. But along with the remaining note, the bank would have holding costs plus real estate transactional costs to recoup....no reason for them to be offering any bargains.