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Updated almost 16 years ago on . Most recent reply

Ryan D's profile image
Ryan D's profile image
Ryan D
  • Real Estate Investor
  • from Pittsburgh, Pennsylvania
  • Member since Jun 16, 2008
Connect

User Stats

53
Posts
3
Votes
Ryan D's profile image
Ryan D's profile image
Ryan D
  • Real Estate Investor
  • from Pittsburgh, Pennsylvania
  • Member since Jun 16, 2008
Connect
Ryan D
  • Real Estate Investor
  • Pittsburgh, PA
3
Votes |
53
Posts
General Real Estate Investing

Buying a Bank Owned Property

Ryan D
  • Real Estate Investor
  • Pittsburgh, PA
Posted

I am interested in purchasing a property that was recently bought at a sheriffs sale by the bank. Any advice on how to approach the bank/start negotiations? Do I need to bring in my attorney this early in the process? Should I purposely make a crazy low-ball offer to start? I have heard stories of banks taking big losses just to get properties like this off their balance sheets. Any input would be appreciates.

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