REO listing price too high

[Ahmad Nassar]

Hi BiggerPockets,

I found a multi family bank owned property that I want to put an offer on, however, the listing price is more in line with what the ARV would be... is that common for REOs?

[Ron S.]

Originally posted by @Ahmad Nassar:

@Ron S. I should of said that off the bat! thanks for the advice!

No worries! I understand your position. I list at FMV every day on my REO properties. I reject every offer that is below my threshold without anything substantive to back up the reason for the offer. I let them do the leg work and then if they actually do the leg work, then I do my own due diligence. If my research confirms their research, we usually end up with a deal. If they just low ball me for giggles, I don't even bother with a counter offer.