As far as selling a bank-owned REO property, do the banks generally accept only the HIGHEST qualified offer?

Question by Happy day: As far as selling a bank-owned REO property, do the banks generally accept only the HIGHEST qualified offer? Regardless each bidder’s financial condition (down payment amount/ excellent credit score/ contengencies…)? For example: Bank’s target price is 0K. Two offers received from two possible buyers. Buyer A: Offer 2K, 5% down, credit [...]

Is it true that bank-owned REO properties are usually being sold to the highest bidder?

Question by Happy day: Is it true that bank-owned REO properties are usually being sold to the highest bidder? Banks (REO sellers) only care about the bottom line (ie the final number). They don’t care about other factors such as buyer’s FICO scores (750 or 800), down payment amount (20% or 40%), or it’s the [...]