Asset managers look at “highest and best” offers which is typically the second round call-to-action on multiple offers of REO properties.
That does NOT just mean highest offer. They look at the strength of the offer: large down payment, reserves in bank, FICO, prequal letter, etc…
I just beat out an all-cash offer on the house I am buying. Obviously I was the high bidder but I also was a strong offer according to the things I mentioned.
All cash does not always win. Is the decision process always fair? Maybe not. But it worked for me.
