Should I offer full price on a foreclosure?
A foreclosure listing in real estate is no different than any other sale except that the owner of the home, the seller, is a bank, not a person. Banks tend to price their listings on the high side of the real estate value range expecting some negotiation. Look at the recent comparable sales nearby and use them as a gauge. Foreclosure sales tend to sell for less than regularly marketed homes for sale. Many times there are disclosure issues, the previous owner may have damaged it, or it simply in poor condition due to the fact that it’s been vacant.