Foreclosure

Hi Bosan,

If you are buying a foreclosure property, then you may be able to negotiate the price of the house depending upon the time period the property has been in the market.

Thanks,

Jerry

Yes, you can negotiate the price of your property even when it is on foreclosure.

A foreclosure sale is an auction - the banks set the minimum price by bidding after that it is whoever is willing to spend the most - if the home has been foreclosed and is on the market it is an REO (bank owned) and like any home on the market you can offer whatever you want - it doesnt mean the selling bank has to accept the offer but it is wortha shot
Good Luck
Brian Barnes
ENG Lending
Nationwide Lender