Are bank's negotiable on foreclosure's?
Question:
The house has 15k worth of structure problems. Needs a 3k plumbing job done, as well as new: water heater, kitchen cabinets, carpet and paint.
If I were to resell, it'd sell for no more than 40k. Listing price is 12k. What's wrong with asking 8k? Are they really that tight on asking price?
Answer:
In my experience, Banks aren't that much different from any other seller. I also haven't found that any hard and fast rule applies regarding how much they will negotiate.
There is one way to find out how "negotiable" any seller is - make an offer on the property!
You might as well give it a shot. The worst that can happen is they turn you down and you can either make a higher offer or walk away.
Or someone else takes it for a little more than what you were wanting to offer -- oh well!
If it's been on the market awhile w/o offers they would be less likely to negotiate.
Why not would be everyone wants to maximize the money that they are taking in!
All sellers negotiate and corporate idiots are no different.
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