Has Anyone Had Any Luck Getting Money Back On REOs(m)

I have found a property that is an REO that I would like to make my primary, of course I don't want to offer full asking price. It needs a little work. Has anyone had luck offering less than asking price and getting repair concessions? Any thoughts and advice, greatly appreciated.

quinn

Comments(2)

  • KevinIL7th January, 2005

    Keep it simple when offering on an REO. Make your offer based on what you feel the house is worth in as-is condition.

    You could ask for a repair credit but why bother. Just discount your offer by the amount of repairs.

  • monopoly9th January, 2005

    I offer 30-50% lower than asking price. See if they counter.

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