The no. of buyers of foreclosure properties is increasing day by day as these properties are considered safe and reasonably priced. But, can one still do bargaining for these listed properties? What would be the points of discussions apart from the tagged price?
A property with virtually no disclosure because the seller is the bank is safe? There are plenty of foreclosures on the MLS priced at retail just like any other property. Many banks are trying for top dollar rather than pricing them to sell quickly to get them off the books. Yes they will negotiate, but sometimes it may take more time than with a normal owner. It sometimes takes extra time to get high enough in the bank where someone can actually make a decision about an offer. Banks are selling these places as is. You can highlight repairs that will need to be made, but don’t expect them to really care. They already got a BPO and they’re just trying to get what they can.
You can find deals on foreclosures, but you often have to wait for a while so they’ll lower the list price (and the price they’ll accept) and a lot of times there will be a lot of work needed to bring the property back to where it should be.