If you get a minute can anybody give me a step by step plan or proposal on how to make an offer on a bank owned properties/ foreclosed properties.
Your question is extremely broad. I would suggest using the search function at the top of the page to search for REO, Foreclosures, 70% rule, 2% rule, 50% rule, Offers, etc.
Then, once you understand the basics, ask a more specific question.
Good Luck,
Mike
How to make an offer is easy. There is only one step.
Call your favorite real estate agent.
REO properties are marketed through real estate agents. The agent will have all the forms the bank/lender reqquires when you submit an offer.
Now, figurinng out how much you want to offer depends upon how you plan to use the property. Mike has already pointed you in a direction to begin your education.
If there is a realtor just write your offer as usual. If there is not then you will want to contact the Asset Manager. Most foreclosures in my area are being listed by realtors.
good luck