Offering.g on REOs

[Richard Fields]

Is it realistic to offer 27% below the listed price on an REO?

[John Powell]

I would say go for it unless competition is stiff. My first REO was originally listed at $175k I bought it at $108k. When I saw the price drop from $175k to $140k I put in an offer of $100k. That offer was countered slightly below asking. A month later they dropped the price again to $110k i bought it then at $108k. So if you are looking to get a good deal offer what your numbers support and be patient.