[quote=questy]
It isn’t very efficient because the terms and conditions are very confusing and inconsistent, there is the threat of of fees for not consummating a purchase agreement apparently dictated only by the seller, and there seems to be no contingencies for inspection or financing. The terms are written to ward off hallow bids but it also scares off legitimate and well-intentioned bidders. IMHO not too efficient.[/quote]

There are plenty of REOs that require their purchase contracts to be used and under their terms. The only difference between the altisource REOs and the others is you are submitting to the Asset Manager directly through the website.