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Updated almost 8 years ago on . Most recent reply

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595
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Carson Wilcox
  • Davis, CA
344
Votes |
595
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How to make my offer stand out? on a bank owned.

Carson Wilcox
  • Davis, CA
Posted

I am walking a bank owned on Sunday.  I am very interested.  Unless it has MAJOR issues... I will likely make an offer.  My realtor said the listing agent told him they already have 2  investor offers to open (some 15 day wait for investor offers).  it is $220k.  I cannot cash the whole thing, Heloc, i have like $260k on tap... so I could cash half, do rehab... but not all.

Seems like I can either pay a bit over asking if the numbers work... OR work terms... like half cash or...? to make my offer stand out... any other ideas?  THANKS!

Most Popular Reply

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17,434
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,089
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17,434
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

Banks are simply looking for the highest net price, so bid higher than the other offers.

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