Final offer from Bank on Bank owned property
Hello everyone,
I am currently in the process of buying a property in the greater Orlando area. It's a bank owned property and it's on the market for almost 90 days. After 45 days, the bank dropped the price from $144,900 to $139,000.
I offered $125,000. Then the bank countered with $136,500. Then I countered with $127,500 and the bank countered now with $134,900 but saying "Final offer".
Comparables are $13 more per sqft, the property does not need much work. Does anyone have experience with this kind of situations? Would it be a gamble to make one final counter offer or is it better to go with the "Final offer" from the bank?
So bottom line: Is the "Final offer" really final?
Thank you so much for your help and advice!
Most Popular Reply
@Zachary Bettershit the nail on the head. Make sure the numbers work for your goals.
I purchased a foreclosed home in Oviedo after getting outbid on literally 50 other homes within a matter of hours of my bid's. Everytime I put in a bid, they ALWAYS said "give me your best and highest offer." The way I won my last bid (out of 12 other bids) was by typing up a letter stating how much I loved the neighborhood and how I could see my family taking walks on the trails etc. This may or may not work depending on the person who reads it but it can't hurt. Orlando is a tough market but there is money to be made. Good luck. @Zachary Betters