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re: Real Estate Question: Haggling a Foreclosure
Posted on 11/20/14 at 2:28 pm to CharlesLSU
Posted on 11/20/14 at 2:28 pm to CharlesLSU
quote:
the house has been bank-owned for 18months.
Truthfully they don't care how long they have owned it because their maintenance cost is offset by HUD, FHA, VA, or whomever. Trust me I manage lots of repos for banks.
There are a lot of factors that do go into what they will accept though. It's mostly creative accounting on their part and if they need some more write offs this quarter.
Bottom line is that it's your money and it doesn't hurt to ask and try to secure the lowest price possible.
1
Posted on 11/20/14 at 2:29 pm to stout
Honestly, the asking price is already a steal as the comps are $600+.
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