Your name saw this post on The ActiveRain Real Estate Network and thought it might be of interest to you. Please see the link below to review the post.

Writing Offers on Foreclosures
Writing an offer on a foreclosure is not the same as writing an offer on a privately owned home.  Banks are often not looking for the same things in an offer that your normal seller is.  In the Charlottesville, Virginia area we have historically had very few foreclosures.  At this time we still have many less that other areas of the country, but it is definately more than we have had in the past.  In my office there are very few agents who have participated in a transaction dealing with a foreclosure.  However, in this market there is a destinct posibility that you will be helping at least one buyer make an offer on a foreclosure and need to be prepared.
To begin with the banks are looking for a cash offer with a quick closing time.  Recently I submitted a full price offer for a client on a house that we did not get.  The bank accepted another offer for $15,000.00 less, but with a quicker closing time.  The listing agent  later told me that too many things can go wrong with a vacant foreclosed home, so the banks want to get them off their books as quickly as possible.
... more

__________________________________________________
Are you on The Rain? Grow Your Network!