Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 17 years ago on . Most recent reply

User Stats

1,169
Posts
123
Votes
Frank Adams
  • Loveland, CO
123
Votes |
1,169
Posts

REO questions from an old hand

Frank Adams
  • Loveland, CO
Posted

Usually I'm kind of "Mr. Know-It-All, but it's been 15 years since I bought an REO and I'm pretty sure the ground rules have changed a bit.

I'm looking at a couple of SFHs in my area, $150K range, ARVs in the low $200K. Nothing serious, paint, a tiny bit of sheetrock repair and some light fixture updates on the older one.

Anyone have a feel for how much off their asking price they'll entertain withouth laughing at my offer?

It used to take 7 days minimum to get an answer, is that still about right?

Back in the day there would be a "7 day inspection" period after thier offer, is that still the way it's done?

How big a % off asking price have you guys been getting?

I'm offering cash so they don't have to worry about getting another bounce back loan no their books.

Thanks

all cash

Loading replies...