Why won't they haggle?

[Ron Todd]

I found the perfect home and was even more excited to see it had been REO for several years! I made an offer with my real estate agent and the bank countered by barely moving down. After a bit more research (small town Oklahoma, everyone knows everyone's business), the bank has refused multiple offers over the years near asking price. I'm curious if there are some common reasons why they would stick to their guns and hold onto a house for so long. Are there any strategies to use to help with negotiations? I've heard about offering to get the loan through the bank as an incentive for them to haggle but besides meeting them at asking price, that's about it.

[Joe Villeneuve]

It used to be that the banks couldn't make a profit when unloading their REO's. That changed a number of years ago. Now they can, and when it's a seller's market, they usually hold out for top dollar...but not forever.

Keep trying, stick to your number...not their's.