That only applies, scaredy, if there’s “true competition” for properties you are interested in making an offer on.
If you go “off the beaten path” a little and become interested in a property that few buyers would make an offer on, then I see the seller having three choices, accept your offer, be recalcitrant and hold out indefinitely until his agent “fires himself,” or remove his property from the market (because he was only testing it anyway).
When it comes down to little or no interest or “competition,” the most qualified buyer usually wins, even if offering a lower price than others.
I just think right now that “bank-owned” to a lot of buyers who flock to these listings means to them that the BANK IS READY TO DEAL! More often than not, this is FAR from the truth. Banks are STILL trying to recoup as much as they can from all the bad investments they (stupidly) made in recent years.
As a solid, qualified buyer, none of this is really your problem :=)
In other words, why would I line up in the middle of the day at the CVPO and wait in line with 30 people when I can visit the machines in the lobby at the close of business that day and get my documents postmarked and out to the sorting station THE SAME DAY?? Or go visit the Bonita PO with 0-4 people in line?
These banks won’t have all these frenzied “mulitiple offers” when all the (formerly) $1M+ acreages start hitting their books. This is the type of property I thought you were looking for. All these “joe-sixpack” buyers you’re currently “competing with” won’t be able to afford the rehab on them or the water bill or even qualify for a loan to buy them as an REO.
You just seem to be currently bumping into all the frenzied manic buying panic and absorbing it wherever you go. This too, shall pass, but you may have to change your course a little before you are successful in your bid, scaredy.
