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So what should I offer the bank? Contrary to popular opinion that REO properties can be bought from banks for much less than the list price, stats show that in fact they often go for at or above the list price, and only those that have been on the market for some time go for less, and not that much less either. The banks have already priced the property at a huge discount and savvy buyers recognize this and go forward. Note that overall sales in our market area for last 30 days actually averaged out at close to six percent over asking price for bank-owned properties. Link here for chart data.

 

 


Unless otherwise stated square footage and lot dimensions appearing herein are derived from county records and may or may not be accurate.
If square footage is material to a transaction a survey or other measurement is recommended. This information deemed reliable but not guaranteed. Current or previous year’s taxes may not accurately forecast future property taxes. Property taxes can increase from one year to the next for various reasons.

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