re: Real Estate Question: Haggling a Foreclosure

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Unless the property has something significantly wrong with it (which should be reflected in the price), then there is no need for the bank just to unload a property for significantly less than what it is worth. There is always a little play in the numbers, as there is with any real estate deal, but we get so many calls from folks that think they are going to buy stuff for pennies on the dollar ... And that just isn't going to happen with a bank that has stockholders to answer to.

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Thats right. They want to get it off of their books, but they wont take a loss unless things get real bad.