All Forum Posts by: Deanna Kiser

Thank you both for your input!  The house has been on the market, now, for 1 week.  There have been multiple offers (I know 4 at least, including ours, per the listing agent).  We ended up offering over list, though I fear it will go much higher, knocking it back out of our price range.  The listing agent has multiple foreclosures under his name right now, the others seeming a little lower than their comps as well.  I tried researching how his prior foreclosure sales went, but it was all over the place, so I really couldn't get anywhere.  I see what you mean about it really depending on each particular property.  The offers have now closed, per the agent, so I'm gearing up for the "final & best" call/email, though we pretty much already came with our best.  We'll see - I'm hopeful, yet not expecting any miracles or gonga deals.  I do appreciate all I've been learning from this site, though!

Hello, been reading for a couple days without finding an answer to my exact question, and because I'm running out of time, I'm asking though I'm sure further searching might help:

Is the REO listing price (on MLS) ever just a low starting point and the seller expects bids to go much higher?

For instance, an REO property is listed about $100K under comps. While it does need significant repair, there's quite a bit of difference between ARV and list. We are not investors, but will live here. This house would normally be out of our price range, so I am trying to be realistic since it there are multiple offers. Thank you for your time!