Offer under bank ask

[Tom Lane]

I'm sure its been asked/answered a million times, but, I'm looking at a bank reo tomorrow and would like to hear what folks are offering UNDER the ask...

Its listed at 37,900, down from 60k since February. It wants a roof and probably a furnace and water heater. The kitchen looks ok but needs appliances. Some floors are tired and it needs interior paint. UNSEEN I could spend another 20k. I want to flip it, using all cash from our last sale.

WHAT WOULD YOU OFFER?

I'm thinking 25k...

[Curt Davis]

My question is what is the max you are willing to pay for it?  

Understand some banks have a formula on when and how much they lower the price.  

Good luck