is an REO asking price negotiable

[Doron Rice]

Hi All,

I apologies for my newbie question… is an REO asking price negotiable? Can I offer less than the asking price? What should I do to increase my chances when putting an offer for a home-path property?

Thanks!

[MONICA WATSON]

My first property was a REO on homepath this January. I bid 11K less, didn't hear anything for a week. My Realtor called they said offer was to low, I Bid 5K more they accepted right away. They normally do price drops every 30 days or so. Never hurts to try, I got lucky!