Are Foreclosure Prices Negotiable?
A. Yes, it is possible to negotiate the price of a foreclosure similar to other resales. We are very experienced negotiating with banks for foreclosures. However, whether this will work is dependent on the interest from other buyers. We have seen many foreclosures with multiple bidders. Some of the best foreclosure deals are already priced so significantly below market value that multiple bidders may force the final price above list price. If there is very little interest in a property, we have successfully negotiated discounts of up to 15% off list price. Each situation is unique and depends on many factors.
