Buying a foreclosure for pennies on the dollar? This happens ALL the time......... on HGTV. In real life, however, the selling bank isn't willing, or doesn't even HAVE, as much wiggle room as you'd expect on these types of properties. The best way to get as much "give" as possible on the selling price would be to entice the selling bank by eliminating hurdles & getting to closing as soon as possible. Selling banks do not want to hold onto a property for one day longer than they absolutely need to. You're more likely to get them to wiggle on the sales price as much as possible by paying cash. Not only does this eliminate the necessity of an appraisal, but the time until closing can be substantially reduced.
Katina Hunter
Coldwell Banker Realtor