We’ve been watching a short sale that’s been on the market for quite a few months.
We asked the agent if they would accept $XXX, and she said they already had a “good” offer that was just below the (very inflated) list price — even though it’s not marked contingent.
She said, “even if this offer doesn’t work out, the bank will NOT lower their price, as they would rather sit on it.”
This seems to be something new — not even trying to negotiate or see if the bank would be willing to consider offers that are below list price.
I wonder if there’s some kind of new deal where the banks are giving agents bonuses if they get a bid over $XXX amount, and maybe penalize them if they go below a certain amount.
Just thought it was interesting that the bank would want to “sit” on even more inventory. It’s like they’re waiting for the Magic Appreciation Fairy to show up.
