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  • April 28, 2010 at 3:58 PM #545560
    Anonymous
    Guest

    [quote] …In my area at least I havent seen a home that was listed on their site that wasnt on the MLS (or soon to be on the MLS). I know many houses that have sold through the MLS that were on that site as well….

    I don’t think its an auction as much as your standard REO listing with a electronic bid submission interface.[/quote]

    My understanding from an agent (at least on the one property I’m interested in) is you MUST use the online altisource/gohoming site to submit a bid… you can’t initiate a standard offer to purchase on this property through a buyer’s agent. Oh bother!

    April 28, 2010 at 4:00 PM #544548
    Anonymous
    Guest

    If you’re the winning bidder, they apparently send you a 4 page addendum to standard Purchase Agreement. What if you don’t agree to this? They apparently won’t provide what those addendums are in advance of bidding.

    Has anyone had experience completing a purchase with these guys?

    April 28, 2010 at 4:00 PM #544663
    Anonymous
    Guest

    If you’re the winning bidder, they apparently send you a 4 page addendum to standard Purchase Agreement. What if you don’t agree to this? They apparently won’t provide what those addendums are in advance of bidding.

    Has anyone had experience completing a purchase with these guys?

    April 28, 2010 at 4:00 PM #545141
    Anonymous
    Guest

    If you’re the winning bidder, they apparently send you a 4 page addendum to standard Purchase Agreement. What if you don’t agree to this? They apparently won’t provide what those addendums are in advance of bidding.

    Has anyone had experience completing a purchase with these guys?

    April 28, 2010 at 4:00 PM #545238
    Anonymous
    Guest

    If you’re the winning bidder, they apparently send you a 4 page addendum to standard Purchase Agreement. What if you don’t agree to this? They apparently won’t provide what those addendums are in advance of bidding.

    Has anyone had experience completing a purchase with these guys?

    April 28, 2010 at 4:00 PM #545510
    Anonymous
    Guest

    If you’re the winning bidder, they apparently send you a 4 page addendum to standard Purchase Agreement. What if you don’t agree to this? They apparently won’t provide what those addendums are in advance of bidding.

    Has anyone had experience completing a purchase with these guys?

    April 28, 2010 at 4:04 PM #544608
    Effective Demand
    Participant

    [quote=questy]

    My understanding from an agent (at least on the one property I’m interested in) is you MUST use the online altisource/gohoming site to submit a bid… you can’t initiate a standard offer to purchase on this property through a buyer’s agent. Oh bother![/quote]

    You have to use the site to submit a bid agent or not but any of the properties I have seen have a broker co-op (i.e. buyers agents get paid) but I’m not in San Diego and YMMV.

    April 28, 2010 at 4:04 PM #544723
    Effective Demand
    Participant

    [quote=questy]

    My understanding from an agent (at least on the one property I’m interested in) is you MUST use the online altisource/gohoming site to submit a bid… you can’t initiate a standard offer to purchase on this property through a buyer’s agent. Oh bother![/quote]

    You have to use the site to submit a bid agent or not but any of the properties I have seen have a broker co-op (i.e. buyers agents get paid) but I’m not in San Diego and YMMV.

    April 28, 2010 at 4:04 PM #545201
    Effective Demand
    Participant

    [quote=questy]

    My understanding from an agent (at least on the one property I’m interested in) is you MUST use the online altisource/gohoming site to submit a bid… you can’t initiate a standard offer to purchase on this property through a buyer’s agent. Oh bother![/quote]

    You have to use the site to submit a bid agent or not but any of the properties I have seen have a broker co-op (i.e. buyers agents get paid) but I’m not in San Diego and YMMV.

    April 28, 2010 at 4:04 PM #545298
    Effective Demand
    Participant

    [quote=questy]

    My understanding from an agent (at least on the one property I’m interested in) is you MUST use the online altisource/gohoming site to submit a bid… you can’t initiate a standard offer to purchase on this property through a buyer’s agent. Oh bother![/quote]

    You have to use the site to submit a bid agent or not but any of the properties I have seen have a broker co-op (i.e. buyers agents get paid) but I’m not in San Diego and YMMV.

    April 28, 2010 at 4:04 PM #545570
    Effective Demand
    Participant

    [quote=questy]

    My understanding from an agent (at least on the one property I’m interested in) is you MUST use the online altisource/gohoming site to submit a bid… you can’t initiate a standard offer to purchase on this property through a buyer’s agent. Oh bother![/quote]

    You have to use the site to submit a bid agent or not but any of the properties I have seen have a broker co-op (i.e. buyers agents get paid) but I’m not in San Diego and YMMV.

    April 28, 2010 at 4:11 PM #544613
    Anonymous
    Guest

    [quote=Effective Demand] IMHO it just looks like it is cutting down the steps for bid submission to make the process more effecient. [/quote]

    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.

    April 28, 2010 at 4:11 PM #544728
    Anonymous
    Guest

    [quote=Effective Demand] IMHO it just looks like it is cutting down the steps for bid submission to make the process more effecient. [/quote]

    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.

    April 28, 2010 at 4:11 PM #545206
    Anonymous
    Guest

    [quote=Effective Demand] IMHO it just looks like it is cutting down the steps for bid submission to make the process more effecient. [/quote]

    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.

    April 28, 2010 at 4:11 PM #545303
    Anonymous
    Guest

    [quote=Effective Demand] IMHO it just looks like it is cutting down the steps for bid submission to make the process more effecient. [/quote]

    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.

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