[quote=sdrealtor]bg,
That is the way you handle things but people who want something special in tight markets have no choice other than sitting out if they want something special.
As for your advice, it is full of more holes than swiss cheese. . .
I stopped reading because it is clear why you no longer are in this business. You werent made for it.[/quote]
First of all sdr, I agree that buyers should sit it out if they want “something special” – that means wait until “something special” comes on the market that they are looking for instead of just bid on everything in sight.
I did not intend to give “advice” in my post. This is simply the way I do things. I’ve had to assist in cleaning up numerous messes when things went awry in RE transactions, as they OFTEN do.
I never actually made my living as a RE agent. The most time I devoted to it was Mon./Thurs nights and weekends. I always had a 40-hr. wk. DAY JOB when working in RE. My clients were people I already knew.
Yes, RE transactions ARE adversarial, just like lawsuits. The seller wants the highest price and the least concessions and the buyer wants to pay the lowest price and get the most concessions. The other party is not your “friend” nor is their agent. I don’t believe in dual agency – I think it should be outlawed. I’ve seen too many disputes arise from it. “Professional” agents can come to a “meeting of the minds” to effect a smooth-flowing sale with a timely closing that benefits both parties.
These “banks” seem to be playing “blind-bidding games” and take days or weeks to make up their mind and/or don’t have a closing date that they will stop accepting offers. This leaves buyers just hanging who may have a lock-in on their interest rate or while another, more suitable property comes on the market and they can’t make an offer on.
What makes these vacant, run-down (and sometimes stripped) REO’s so “special” that banks can get away with this nonsense?? Buyers and their agents that don’t submit ironclad offers and instead PLAY BY THEIR “RULES,” that’s who! To each his own.
