altisource.com auctions

[Anonymous]

[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.

[Anonymous]

[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.[/quote]

Huh? I didn’t understand this response.

[Anonymous]

[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.[/quote]

Huh? I didn’t understand this response.

[Anonymous]

[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.[/quote]

Huh? I didn’t understand this response.

[Anonymous]

[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.[/quote]

Huh? I didn’t understand this response.

[Anonymous]

[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.[/quote]

Huh? I didn’t understand this response.

[Effective Demand]

[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.

[Effective Demand]

[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.

[Effective Demand]

[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.

[Effective Demand]

[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.

[Effective Demand]

[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.

[Anonymous]

[quote=Effective Demand]

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.[/quote]

Aren’t you forgetting that under other REO’s on the MLS that the “bidder” makes an offer on their own terms, or terms already stated on the listing, and there is NO FORFEITURE OF 1% OF THE PURCHASE PRICE IF YOU DON’T AGREE TO UNSEEN TERMS? Standard REO also allow contingencies for inspection and financing without losing $1000’s!

If you are part of the company, may I please suggest you get the Terms and Conditions rewritten soon to address all of these concerns? Your bids are likely to rise and close more quickly if you add language to protect bidders as well as just your company.

[Anonymous]

[quote=Effective Demand]

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.[/quote]

Aren’t you forgetting that under other REO’s on the MLS that the “bidder” makes an offer on their own terms, or terms already stated on the listing, and there is NO FORFEITURE OF 1% OF THE PURCHASE PRICE IF YOU DON’T AGREE TO UNSEEN TERMS? Standard REO also allow contingencies for inspection and financing without losing $1000’s!

If you are part of the company, may I please suggest you get the Terms and Conditions rewritten soon to address all of these concerns? Your bids are likely to rise and close more quickly if you add language to protect bidders as well as just your company.

[Anonymous]

[quote=Effective Demand]

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.[/quote]

Aren’t you forgetting that under other REO’s on the MLS that the “bidder” makes an offer on their own terms, or terms already stated on the listing, and there is NO FORFEITURE OF 1% OF THE PURCHASE PRICE IF YOU DON’T AGREE TO UNSEEN TERMS? Standard REO also allow contingencies for inspection and financing without losing $1000’s!

If you are part of the company, may I please suggest you get the Terms and Conditions rewritten soon to address all of these concerns? Your bids are likely to rise and close more quickly if you add language to protect bidders as well as just your company.

[Anonymous]

[quote=Effective Demand]

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.[/quote]

Aren’t you forgetting that under other REO’s on the MLS that the “bidder” makes an offer on their own terms, or terms already stated on the listing, and there is NO FORFEITURE OF 1% OF THE PURCHASE PRICE IF YOU DON’T AGREE TO UNSEEN TERMS? Standard REO also allow contingencies for inspection and financing without losing $1000’s!

If you are part of the company, may I please suggest you get the Terms and Conditions rewritten soon to address all of these concerns? Your bids are likely to rise and close more quickly if you add language to protect bidders as well as just your company.

[Author]

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