Posted by Bill-AL on September 05, 2003 at 24:22:55:
It can be shocking what price some banks accept on foreclosed properties! Check to see what the property sold for at auction. This might give you an idea of what to offer. (Also, sometimes banks sell REO property for less than they were offered on a short sale proposal prior to the auction.) Submit a low initial offer, you can always go higher in negotiations if you have to. Good luck!