The Cottagers were impressed with Neco's loan stint last season as they earned promotion to the Premier League and will bid around £10m.
Liverpool are hoping to secure a deal worth £12-£15m for the right-back (including add ons). They have already signed Calvin Ramsay to replace Neco.
Meanwhile, Liverpool have put up Nat Phillips for sale but since he has three years left in his deal, they are prepared to let him go on loan for another season.
However, an offer of £12m could persuade Liverpool to sell him on a permanent deal, the report adds.