advice on offer

[Laura R.]

Hi All,

I have found a VA foreclosure in my area that is a great deal. It is a 1000 sf 3/1 with a 1 car detached garage listed for $69,900. The other comps are both 1000 sf, 3/1, and one is the exact same model home. That one is on the same street and sold for 134,000 and the other one is on the street behind this one, a slightly different config, and sold for 130,000. They also have 1 car detached garages. From the pics, they were clean and well kept, but not particularly updated.

There are multiple offers on this property, which will all be submitted on Tuesday. By our calculations, we can go as high as 81,000 (all cash) and still come out in the 20,000+ range in profit. I have never bid on a VA foreclosure nor gone up against a multiple bid situation. My questions are 1) what would you (other seasoned investors) bid in this situation, and 2) is there anything in particular about a VA offer that will get you noticed above another offer, or is it typically just the highest bidder that wins? THANKS!