how do i come up with a reasonable offer on REO?

how do i come up with a reasonable offer on REO?

the home is in north west indiana (chicago suburbs). 2000 sq ft bi level on an acre in schereville indiana. the home has been listed for 141k since august 08. one contingent buyer backed out due to unknown issues with home inspection.
dont know where to start on an offer based on the known.

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do this

have a realtor pull "comps" for you then make your offer 40% below the comps number minus rehab costs.

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You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!


REO's

When you make that offer and they refuse do you go up any at all on your offer or do you just move on to the next house?

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"THE ARCHITECT OF YOUR DESTINY IS YOURSELF"

"SUCCESS WALKS HAND IN HAND WITH FAILURE"


"AS-IS" REO's

Can you still negotiate on "as-is" REO's? Or do you have to settle for the price listed?

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Great spirits have always encountered violent opposition from mediocre minds.
- Albert Einstein


as-is prices

no you can still negotiate. they may not do repairs but they may concessions on other things - just ask, the worst they can say is "no".

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Anita
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"FAILURE IS NOT AN OPTION"


Anitarny

Thank you for the response Anitarny Smiling

Anitarny wrote:
... but they may concessions on other things - just ask, the worst they can say is "no".

Could you possibly elaborate on the "other things", maybe like examples? (I am trying to think a little differently when making an offer on an REO and still do not know a lot.)

__________________

Great spirits have always encountered violent opposition from mediocre minds.
- Albert Einstein


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