Offlineim planning to make multiple offers on the shortsale listings that my agent sent me.. what is the decent offer on those listing? 40, 50, 70 of the listing price? what if its been bank approve, is there a chance that i can get my low offer accepted?
Thanks
frederick
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There is really no percent off rule of thumb when making offers. Each offer must go through the same senario. First you must calculate the fair market value using sold comparables from your realtor. Second, you will subtract from that number all of your expenses ( real estate agent fees, closing costs, any repairs needed, and your holding costs) and how much profit that you want to make off from the deal. This will calculate out to your maximum offer amount - you should never exceed that amount! You should offer less and then negotiate up to that amount.
You should do this with every deal. It should not matter as to who owns the property - every offer will be the same. I hope that this information helps!
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