altisource.com auctions

[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.

[Effective Demand]

[quote=questy]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 known, and there is NO FORFEITURE OF 1% OF THE PURCHASE PRICE IF YOU DON’T AGREE TO TERMS YOU HAVEN’T EVEN SEEN? 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 instead of just your company.[/quote]

You should definitely not bid on their homes if you don’t like their terms. I didnt bid on several REDC properties because the terms were so one sided and they were also not contingent on inspection or financing. There are also servicers that will only use their contracts not the RPA-CA and the terms contained within are extremely onerous to the buyers. This still works out for the servicers because many people quite simply don’t read anything and sign what is in front of them.

You aren’t going to change anything, the options are A) play by their rules or B) move on to other homes. There is no option C.

[Effective Demand]

[quote=questy]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 known, and there is NO FORFEITURE OF 1% OF THE PURCHASE PRICE IF YOU DON’T AGREE TO TERMS YOU HAVEN’T EVEN SEEN? 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 instead of just your company.[/quote]

You should definitely not bid on their homes if you don’t like their terms. I didnt bid on several REDC properties because the terms were so one sided and they were also not contingent on inspection or financing. There are also servicers that will only use their contracts not the RPA-CA and the terms contained within are extremely onerous to the buyers. This still works out for the servicers because many people quite simply don’t read anything and sign what is in front of them.

You aren’t going to change anything, the options are A) play by their rules or B) move on to other homes. There is no option C.

[Effective Demand]

[quote=questy]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 known, and there is NO FORFEITURE OF 1% OF THE PURCHASE PRICE IF YOU DON’T AGREE TO TERMS YOU HAVEN’T EVEN SEEN? 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 instead of just your company.[/quote]

You should definitely not bid on their homes if you don’t like their terms. I didnt bid on several REDC properties because the terms were so one sided and they were also not contingent on inspection or financing. There are also servicers that will only use their contracts not the RPA-CA and the terms contained within are extremely onerous to the buyers. This still works out for the servicers because many people quite simply don’t read anything and sign what is in front of them.

You aren’t going to change anything, the options are A) play by their rules or B) move on to other homes. There is no option C.

[Effective Demand]

[quote=questy]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 known, and there is NO FORFEITURE OF 1% OF THE PURCHASE PRICE IF YOU DON’T AGREE TO TERMS YOU HAVEN’T EVEN SEEN? 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 instead of just your company.[/quote]

You should definitely not bid on their homes if you don’t like their terms. I didnt bid on several REDC properties because the terms were so one sided and they were also not contingent on inspection or financing. There are also servicers that will only use their contracts not the RPA-CA and the terms contained within are extremely onerous to the buyers. This still works out for the servicers because many people quite simply don’t read anything and sign what is in front of them.

You aren’t going to change anything, the options are A) play by their rules or B) move on to other homes. There is no option C.

[Effective Demand]

[quote=questy]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 known, and there is NO FORFEITURE OF 1% OF THE PURCHASE PRICE IF YOU DON’T AGREE TO TERMS YOU HAVEN’T EVEN SEEN? 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 instead of just your company.[/quote]

You should definitely not bid on their homes if you don’t like their terms. I didnt bid on several REDC properties because the terms were so one sided and they were also not contingent on inspection or financing. There are also servicers that will only use their contracts not the RPA-CA and the terms contained within are extremely onerous to the buyers. This still works out for the servicers because many people quite simply don’t read anything and sign what is in front of them.

You aren’t going to change anything, the options are A) play by their rules or B) move on to other homes. There is no option C.

[Anonymous]

[quote=Effective Demand]

You should definitely not bid on their homes if you don’t like their terms. [/quote]

It’s hard to know if I like them if I don’t know what the exact terms are. The terms and conditions on the site are ambiguous, the terms on the Purchase Agreement, unknown. In that sense, I don’t like them.

As I said, not very efficient.

As far as not changing things, how do you know? Are you management of the company? This would be very helpful to know, Effective Demand.

[Anonymous]

[quote=Effective Demand]

You should definitely not bid on their homes if you don’t like their terms. [/quote]

It’s hard to know if I like them if I don’t know what the exact terms are. The terms and conditions on the site are ambiguous, the terms on the Purchase Agreement, unknown. In that sense, I don’t like them.

As I said, not very efficient.

As far as not changing things, how do you know? Are you management of the company? This would be very helpful to know, Effective Demand.

[Anonymous]

[quote=Effective Demand]

You should definitely not bid on their homes if you don’t like their terms. [/quote]

It’s hard to know if I like them if I don’t know what the exact terms are. The terms and conditions on the site are ambiguous, the terms on the Purchase Agreement, unknown. In that sense, I don’t like them.

As I said, not very efficient.

As far as not changing things, how do you know? Are you management of the company? This would be very helpful to know, Effective Demand.

[Anonymous]

[quote=Effective Demand]

You should definitely not bid on their homes if you don’t like their terms. [/quote]

It’s hard to know if I like them if I don’t know what the exact terms are. The terms and conditions on the site are ambiguous, the terms on the Purchase Agreement, unknown. In that sense, I don’t like them.

As I said, not very efficient.

As far as not changing things, how do you know? Are you management of the company? This would be very helpful to know, Effective Demand.

[Anonymous]

[quote=Effective Demand]

You should definitely not bid on their homes if you don’t like their terms. [/quote]

It’s hard to know if I like them if I don’t know what the exact terms are. The terms and conditions on the site are ambiguous, the terms on the Purchase Agreement, unknown. In that sense, I don’t like them.

As I said, not very efficient.

As far as not changing things, how do you know? Are you management of the company? This would be very helpful to know, Effective Demand.

[sandiegojeff]

Who in their right mind would buy a home with these conditions? You must do your inspection, obtain your loan, verify value (probably best by doing an appraisal) all before submitting your offer? Oh yea…you have to pay a fee on top of that of up to 5%?
This definitely streamlines the process for the bank…great. But does this help any buyer out there? No…unless you are an investor buying cash I don’t see that this is a service that benefits anyone.

[sandiegojeff]

Who in their right mind would buy a home with these conditions? You must do your inspection, obtain your loan, verify value (probably best by doing an appraisal) all before submitting your offer? Oh yea…you have to pay a fee on top of that of up to 5%?
This definitely streamlines the process for the bank…great. But does this help any buyer out there? No…unless you are an investor buying cash I don’t see that this is a service that benefits anyone.

[sandiegojeff]

Who in their right mind would buy a home with these conditions? You must do your inspection, obtain your loan, verify value (probably best by doing an appraisal) all before submitting your offer? Oh yea…you have to pay a fee on top of that of up to 5%?
This definitely streamlines the process for the bank…great. But does this help any buyer out there? No…unless you are an investor buying cash I don’t see that this is a service that benefits anyone.

[sandiegojeff]

Who in their right mind would buy a home with these conditions? You must do your inspection, obtain your loan, verify value (probably best by doing an appraisal) all before submitting your offer? Oh yea…you have to pay a fee on top of that of up to 5%?
This definitely streamlines the process for the bank…great. But does this help any buyer out there? No…unless you are an investor buying cash I don’t see that this is a service that benefits anyone.

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