Updated almost 17 years ago on . Most recent reply
REO offer/counteroffer process
Question about REO offers accepted by banks in this market. We have found a very nice possible second home property, retail value about 725K, tax value of 650K, had been listed by the bank to sell at 629K. The mortgage loan is around 647K per county tax records. It has been taken back by the bank about 11months ago. QUESTION: The bank's most recent counteroffer is 548K., and we are at $535. At what point are we getting a good deal? (Our agent thinks we are already getting one).