I'm looking to buy a house that is being sold by the bank due to foreclosure. My ability to offer over asking is limited on this property but I can offer other things like larger earnest money or larger % cash and less % mortgage.
The market is competitive where I am. What will the bank be looking for?
What makes an offer competitive on a foreclosure sale?
byu/Mobely inRealEstate
Posted by Mobely
2 Comments
cash makes it competitive
Banks are looking for the net $ to them at closing.