Posted on: 26th Mar, 2013 09:58 pm
Hello there… I am planning to buy my first house. While doing so, I came across a property which suits my finances and features of the home. It's a bank owned foreclosure. The listing price of the property is 94,900. On Sunday I bid 88,000. Today we received notice that there are multiple bids and our "best" offer is due by Thursday morning. What would be good competitive bid besides going in at asking price or more? Does anyone know what a bank owned foreclosure in this situation may go for? Is it beneficial for me to have included my pre-approval letter, 1k in earnest money, looking to be owner occupied, etc?
Hi kate,
I personally feel that what you have offered is a good bid. You may increased the amount by a thousand or two. That will be a good competitive price for the property. Along with it, if you can attach the pre-approval letter and the earnest money, then things will be easier for you.
Thanks
I personally feel that what you have offered is a good bid. You may increased the amount by a thousand or two. That will be a good competitive price for the property. Along with it, if you can attach the pre-approval letter and the earnest money, then things will be easier for you.
Thanks
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