One of the biggest boo boo's a buyer makes in presenting offer on bank owned properties is not doing their research ahead of time and not writing a clean offer.

The bank owned properties generally speaking have at least 2 if not 3 appraisals and BPO's(Broker Price Opinions) before deciding on price to list these homes.  Always take that into consideration before making an offer.

Write a clean offer. It is ok to ask for customary things . Remember they want to clear their books.

Have inspection periods for 10 days or less. The faster the closing the better your chances. Make sure your lender(unless a cash buyer) has fully documented and approved your loan subject to satisfactory appraisal and title etc.

Having said that , do not be afraid to write offers lower than the list price just have documentation to back up your purchase offer price.

Do not get emotionally attached to any offer. The faster you learn and accept this the better emotionally and mentally you will fair.

In our area on the lower end homes we are seeing multiple offers. Why? Most of the qualified buyers are in that price range PLUS the investors are out there seeking bargains.

Be prepared to write offers on several homes before acceptance.

I know it is difficult not to get attached but look at this as a business adventure, an investment and do not try to figure out the banks way of thinking.......it will drive you absolutely crazy.............

Do be diligent, consistent and write offers.  NEVER give up your right to inspections unless you are a licensed contractor and/or have the cash to take care of major ticket items.

If your REALTOR(R) is not patient with you in  writing up offers, find another one. Call me, As long as I know you are qualified and serious about purchasing I have no issue writing up offers until you find one that is accepted.

With the new electronic management of contracts it takes little time to create a purchase offer and send to you electronically to sign. NOW some outside of the state of California lenders do not recognize electronic signatures and will want hand written intials and signatures......NO problem the process is not complicated.

I am here to serve you in your real estate needs. Contra Costa, Alameda and Vallejo and Benicia in Solano County.