Foreclosure fixer offer strategy

[John Kesner]

Hello Folks! So I'm wondering what strategy you guys have found effective buying a fixer upper from a major bank. Assuming the property needs significant work (roof, hvac, vandalism to windows, doors and plumbing) Do you, A. View property, get prices from contractors for the repairs required. Use estimates as justification for a low offer? Or B. Get an accepted offer with an inspection contingency, get quotes for the repairs. Then renegotiate the offer with the repair quote as back up? Lets hear your experience! Thanks

[Wayne Brooks]

Banks don't care about what kinds of estimates you get, either before or after a contract.  If you get it under contract, don't expect a reduction due to your estimates.....nothing changed between then and when you made your offer.