Cash offers … banks slitting their own throats?

[SD Realtor]

It is a very sad fact that there is alot of bs out there and listing agents double ending things while other buyers get screwed. We have talked about and we continue to see it. I have had clients of mine who called the listing agent broker after they got aced out and vented to them but with no avail. I have had a client but he lost out on an reo and he was able to somehow reach the asset manager and wanted to make sure his offer was not the highest. As bad as the market was before the way that REO properties are parsed out is just a nightmare. I would be willing to guess that the number of double ended deals for reos verses regular sales is higher, perhaps much higher but that is just me being bitter. There is some oversight by asset management companies but not a hell of alot.

[bsrsharma]

AK,

I think you should write a nice letter to the seller’s agent whenever a financed deal went for a lower price than your offer (assuming you have good FICO score etc., so that they can’t give a flippant answer). (by email or fax so that they know that you know that it has been delivered). Collect a bunch of the replies and post them here. I am sure the collective smart brains of Piggs will find methods to screw them over.

[bsrsharma]

AK,

I think you should write a nice letter to the seller’s agent whenever a financed deal went for a lower price than your offer (assuming you have good FICO score etc., so that they can’t give a flippant answer). (by email or fax so that they know that you know that it has been delivered). Collect a bunch of the replies and post them here. I am sure the collective smart brains of Piggs will find methods to screw them over.

[bsrsharma]

AK,

I think you should write a nice letter to the seller’s agent whenever a financed deal went for a lower price than your offer (assuming you have good FICO score etc., so that they can’t give a flippant answer). (by email or fax so that they know that you know that it has been delivered). Collect a bunch of the replies and post them here. I am sure the collective smart brains of Piggs will find methods to screw them over.

[bsrsharma]

AK,

I think you should write a nice letter to the seller’s agent whenever a financed deal went for a lower price than your offer (assuming you have good FICO score etc., so that they can’t give a flippant answer). (by email or fax so that they know that you know that it has been delivered). Collect a bunch of the replies and post them here. I am sure the collective smart brains of Piggs will find methods to screw them over.

[bsrsharma]

AK,

I think you should write a nice letter to the seller’s agent whenever a financed deal went for a lower price than your offer (assuming you have good FICO score etc., so that they can’t give a flippant answer). (by email or fax so that they know that you know that it has been delivered). Collect a bunch of the replies and post them here. I am sure the collective smart brains of Piggs will find methods to screw them over.

[moneymaker]

Perhaps if the seller/bank looked at more than 1 applicant/offer at a time things would be better. I know they feel flooded with REO’s, but how do you make a rational decision with no competing offers? By the way AK I love that line too, Good One!

[moneymaker]

Perhaps if the seller/bank looked at more than 1 applicant/offer at a time things would be better. I know they feel flooded with REO’s, but how do you make a rational decision with no competing offers? By the way AK I love that line too, Good One!

[moneymaker]

Perhaps if the seller/bank looked at more than 1 applicant/offer at a time things would be better. I know they feel flooded with REO’s, but how do you make a rational decision with no competing offers? By the way AK I love that line too, Good One!

[moneymaker]

Perhaps if the seller/bank looked at more than 1 applicant/offer at a time things would be better. I know they feel flooded with REO’s, but how do you make a rational decision with no competing offers? By the way AK I love that line too, Good One!

[moneymaker]

Perhaps if the seller/bank looked at more than 1 applicant/offer at a time things would be better. I know they feel flooded with REO’s, but how do you make a rational decision with no competing offers? By the way AK I love that line too, Good One!

[Oxford]

Asset managers look at “highest and best” offers which is typically the second round call-to-action on multiple offers of REO properties.

That does NOT just mean highest offer. They look at the strength of the offer: large down payment, reserves in bank, FICO, prequal letter, etc…

I just beat out an all-cash offer on the house I am buying. Obviously I was the high bidder but I also was a strong offer according to the things I mentioned.

All cash does not always win. Is the decision process always fair? Maybe not. But it worked for me.

ox

[Oxford]

Asset managers look at “highest and best” offers which is typically the second round call-to-action on multiple offers of REO properties.

That does NOT just mean highest offer. They look at the strength of the offer: large down payment, reserves in bank, FICO, prequal letter, etc…

I just beat out an all-cash offer on the house I am buying. Obviously I was the high bidder but I also was a strong offer according to the things I mentioned.

All cash does not always win. Is the decision process always fair? Maybe not. But it worked for me.

ox

[Oxford]

Asset managers look at “highest and best” offers which is typically the second round call-to-action on multiple offers of REO properties.

That does NOT just mean highest offer. They look at the strength of the offer: large down payment, reserves in bank, FICO, prequal letter, etc…

I just beat out an all-cash offer on the house I am buying. Obviously I was the high bidder but I also was a strong offer according to the things I mentioned.

All cash does not always win. Is the decision process always fair? Maybe not. But it worked for me.

ox

[Oxford]

Asset managers look at “highest and best” offers which is typically the second round call-to-action on multiple offers of REO properties.

That does NOT just mean highest offer. They look at the strength of the offer: large down payment, reserves in bank, FICO, prequal letter, etc…

I just beat out an all-cash offer on the house I am buying. Obviously I was the high bidder but I also was a strong offer according to the things I mentioned.

All cash does not always win. Is the decision process always fair? Maybe not. But it worked for me.

ox

[Author]

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