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 [...]

How often and how much do banks usually renegotiate on an REO?

Question by cahsuthenut: How often and how much do banks usually renegotiate on an REO? I am currently in escrow for an REO from Bank of America. The appraisal came in pretty low and I will not be able to put more money down to make up the difference. How much of a chance is [...]