The REO (real estate owned) foreclosed home market is hot right now in the Prescott area with many homes priced under an already depressed market price.  When banks price REOs under the market price, multiple offers are often the response.  This means buyers can  be up against stiff competition for that bank-owned home.

It’s not unusual for some bargain-priced REO homes in  the Prescott area to receive 3 or 5 offers.  Sometimes the bank will throw out all but two offers and then ask the selected buyers to resubmit what is called “Highest and Final” offer.  Sometimes the bank simply accepts the best offer at inception, or they can start over.  Fun isn’t it?

If you’re wondering how you can make your offer rise above all the rest and be the winning offer, here are the top 10 tips to win the REO multiple offer game with right packaging, price, terms and conditions: