I ask because I thought it would be a great incentive when negotiating with the seller for the option to purchase.

Yes and here is why.It is part of  negotiation.

Tell them if you buy the property for $1, it doesnt mean they get the advantage of your negotiating skills.

I'm thinking about offering their price, or even a few grand higher to lock it in and then negotiate down if/when the appraiser/contractor get in there, etc...I used to be a contractor so i'll be able to see the issues most likely while i'm looking and feel out the owner as he'll be letting us in.Please let me know your strategies as I'm going to most likely make an offer tomorrow evening on it if all goes well.Thanks,Johnny

THE ANSWER IS NO if the property is underwater and a rejected short sale it is sitting in a grey area where the bank won't negotiate probably hoping the owner will get his s**t together or the bank is unaware about the recent drop in home values in that area for whatever reason....If you could cash flow it the owner would probably not be under water....

That is a fair negotiation.

My goal was to negotiate the home for 25k to 30k along with a 6,500 wholesale fee.

What are my negotiating options to get it at a good price?

Imagine the negotiation skills behind closed doors?

Hi All,I apologies for my newbie question… is an REO asking price negotiable?