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 [...]

After submitting an offer on a REO house, I couldn’t sleep of worry that the bank might not accept my offer?

Question by David: After submitting an offer on a REO house, I couldn’t sleep of worry that the bank might not accept my offer? But after hearing the news from my realtor that the bank accepted my offer, I am having cold feet. Why is this happening? Best answer: Answer by capwest5aIt’s because you have [...]

Does it ever make sense to offer 25% less than the asking price for a REO?

Question by Dilbert: Does it ever make sense to offer 25% less than the asking price for a REO? Or are such offers always rejected and/or ignored? Best answer: Answer by ~*Mama-of-Two*~That seems like a pretty big price drop. It really depends how much the house is worth and how much neighboring houses are selling [...]

I made an offer on a home that was advertised as a modular REO?

Question by Lynnette K: I made an offer on a home that was advertised as a modular REO? Now the Sellers tell me they just found out it is a trailor, NOT a modular. Shouldn’t it cost less then? What can I do if they accept the offer? Can I reduce my offer with this [...]

Bank of America pre approval required before submitting a offer to purchase Veterans Administration REO?

Question by Uni: Bank of America pre approval required before submitting a offer to purchase Veterans Administration REO? Does anyone see anything wrong with Bank of America requiring the purchaser to be pre approved with Bank of America before submitting a offer to purchase, even though financing is in place with another lender? Best answer: [...]

where should i start on offer for reo?

Question by Matt C: where should i start on offer for reo? the home was taken back by the bank for 7300 on 7/10/08 The asking price is 1100. the condition of the house is fair. the home is located in north west indiana (chicago suburbs). what is a reasonable offer to start at with [...]

Real estate? Tips on Making an Offer Price For Bank REO Properties http://bit.ly/dCCsQQ

Real estate? Tips on Making an Offer Price For Bank REO Properties http://bit.ly/dCCsQQ – by Jurg_Miller (Jürg Miller)

Why do real estate agents always tell me that I should put a higher offer on REO sales?

Question by Jesse: Why do real estate agents always tell me that I should put a higher offer on REO sales? I met two different agents & they both told me the same thing about two different bank owned properties. They said if I submit an offer, the offer should be higher than asking price [...]

How long after we make an offer on a REO house should we have to wait for an answer?

Question by xxkittenluvxx143: How long after we make an offer on a REO house should we have to wait for an answer? The offers were submitted by the broker to the bank at 9:30 am today. Best answer: Answer by jwishzMy son made an offer 3 weeks ago, just heard back today. Not uncommon, unfortunately [...]

How fast will the bank answer when you offer a contract on a REO property?

Question by ExerciseFrogHeather: How fast will the bank answer when you offer a contract on a REO property? Do they consider a group of offers and pick the best one? Or do they take them in order of offer placed? Second-I WANT this house..so I am offering more than the lsit price-thoughts? Best answer: Answer [...]

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