Hello,
I am looking to start buying foreclosure short sale homes and 1-4 unit. What is rule of thumb percentage wise to start initial offer to present to bank? I want to write offer as “and or assigned to” and them work my investors. Thank you for advice.
James 
James,
I don’t do short sales myself but recently attended a Dwan Bent Twyford seminar at our local REI club and she is suppose to be the queen of short sales. This same question came up and most of the people in the room said they started at 60% . most didn’t expect the bank to take it but that was where they started.
Good Luck
George
I’ve gotten an average of a 42% discount on the 11 short sales I did last year. However, I don’t shoot for a certain percentage. I take a number of things into consideration such as how much is the current mortgage, comps, how much I feel I need to make as a profit. I’ve found that most lenders look to net 85-92% of the BPO’s estimate.
Can anyone tell me about the process of contacting banks for foreclosure sales? Are any assumable and if so, how do I find out?