How Much Should I Offer On A Foreclosure Listing

One of the most common questions that I hear in the business of selling Chico foreclosures is, “How much should I offer?”

Buyers often think that if the property is a foreclosure (aka REO or bank-owned property) that the offer should automatically come in low. What they are really asking is, “How low of an offer can I get away with?”

It’s important to understand that the banks that own the foreclosures are like any “normal seller.” Some sellers price their property really high in the beginning “just to see” if they can make a killing. Other sellers price it low in order to create some competitive excitement and facilitate a quick sale. Still others aim to price it very close to market value to ensure that it sells within a reasonable time period at the highest price possible.

Continue reading on The Pink Couch...