Negotiating for REO properties.

This information may be helpful when negotiating on behalf of a Buyer for an REO property.  It is important to be aware that the corporate representatives for REO properties have to justify their selling price to the lending institutions, so it may be prudent to settle in for a series of back and forth price negotiations.  The persistent agent may be able to bring the final agreed upon price down by a series of offers and counter offers.  The corporate representative then can show the lending institution that they were working diligently on behalf of their clients.  So don't expect a big price drop right away, be patient and your Buyers may be rewarded.