Is the price of a repossessed house fixed?

repossess house
For instance, if I was to make a low offer for a repossessed house, have the offer refused, and just casually increased my offer until accepted, and if the bank/estate agent thought I had more money, would they hold-out for more, or would the price reach some kind of “threshold level” and the correct offer just be accepted when this number is reached? Also, is the asking price of a repo set at a certain percent over what they would accept (eg, 10% or 20% more)?. Cheers.

Real Estate Professionals

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November 20th, 2009

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