How much can you negotiate with the bank on a property that will be soon a foreclosure?

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Good Luck, use your best judgement, be fair and make your best offer.

How much can you negotiate with the bank on a property that will be soon a foreclosure?

If you Google "foreclosed property" it will bring back a wealth of websites that will educate you on how to purchase a foreclosure.

One you're into most of these sites.....the property listings clearly state what the bank intends to recoup from the loan. It will also give you information about what "stage" of foreclosure the property is in.

You will see in your research.....many of these homes have a SIGNIFICANT reduction in price. Its hard to average exactly what that reduction will be.....since its affected by taxes....balance owing on the mortgage....many factors.

Its best you begin by researching individual properties. You may very well find these very same foreclosures being listed by a real estate company......for a considerably higher price......but if you are wise.....and do your homework.....and have your financing.........at the right time......you can purchase a property for a song.

How much can you negotiate with the bank on a property that will be soon a foreclosure?

We do short sales. At the most, you may negotiate ten percent off the first mortgage. The banks are just not going to give it away. If there is also a second mortgage, that is usually a little more negotiable.

How much can you negotiate with the bank on a property that will be soon a foreclosure?

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How much can you negotiate with the bank on a property that will be soon a foreclosure?

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