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Updated over 15 years ago,

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1,312
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671
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Jeffrey K.
  • Real Estate Investor
  • Milwaukee, WI
671
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1,312
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REO inspection

Jeffrey K.
  • Real Estate Investor
  • Milwaukee, WI
Posted

For those of you who buy less than five REO's in a year, do you ask for more money back after inspection even if you knew the problems going into it?

I have the problem that some banks just wont come down in price anymore. I offered 10k too much on my last deal (209k building). I asked for 20k back after inspection. They ended up giving me 10k. I know I should not count on this, but does anyone else do this?

I understand that you could get a reputation for doing this with an asset manager (not good), but since I dont buy more than five in a year is this a reasonable strat?

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