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how much to offer on bank-owned property

1Answers

GemmaFitz

11/28/2025, 06:59:21 AM

To determine an offer for a bank-owned property, start by researching the property's market value, original mortgage balance, and the costs of necessary repairs. You can aim for a price that is no more than 10% below the asking price, and be prepared to negotiate, as banks often want to show they've secured the best price. A strong offer includes a substantial earnest money deposit (at least 10% is recommended) and limited contingencies to show you are a serious and prepared buyer.

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