Making REO offers- what do you offer?

[Kev W.]

As a newbie just starting out and interested in focusing on REO properties- with inventories at record levels, and in this market it seems as if the banks are the only ones creating equity with home values being so low.

For some of my REO specialists out there-

What percentage of the listing price do you normally make your offer to the bank?

In working the numbers on some potentials, I wonder should I offer 5% off the listed price, 10% or more.. I know the DOM is a factor in what they accept but I'm just wondering what you guys are seeing in the % off the list price of offers that are accepted.

Thanks in advance for your feedback