Making an offer on a foreclosure

[Carl B.]

I was wondering if anyone new the percentage range that banks want to receive from a foreclosure sale?  For an example some banks want to make at least 84% of the list price.  So on a home costing $199,900 that would be $167,916.

[Christopher Phillips]

@Carl B.

Offer what you think works for you.

Banks want full market value if they can get it.

If you put in 90% of list with zero contingencies, they might consider it if there are no other real offers on the table.

If a lot of investors are interested in the house, expect to pay over list with all cash and zero contingencies.