Approved short sale, any wiggle room

[Bienes Raices]

I viewed it the other day with my realtor. It's already approved at 58K, but I really wouldn't want to pay more than 50-51K for it. My realtor called the listing agent to ask about it, but lister didn't get back to her. Is there any point in offering, say 48K, and see if they'll negotiate up to 50K? Once it's an approved SS, does that mean they won't negotiate further?

[James Harkness]

It can't hurt to try. If you arent willing to pay more than 51k for it, then it isn't a deal to you at 58k, so you might as well make a lower offer.

From the bank's perspective, it really depends on the disposition value of the property. If the 58k value is closer to market value, they may consider a lower number. However, if the approval is priced at disposition value, it is unlikely that they will accept much less, as they think they will be able to make more profits in marketing it as an REO.