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  • April 23, 2008 at 4:38 PM #193523
    farbet
    Participant

    sdr
    On a REO sale offer,does the listing agent come back to the other bidders and ask for a final offer. Or do they assume the highest price offer submitted will complete the deal.
    This happened in a matter of 3 days

    Who checks the pre approval and pre qual letters?The bank in days!!

    I have a female friend who submitted an offer thru an agent to TRIAD .
    Her agent called 3 days after. Another offer accepted !!
    The reason they gave was the bank accepted the highest offer without notifying the her agent(he is such a wuss)
    I mean isn’t it common courtesy to notify the agent about this.
    She believes that an agent that works for Triad got the deal.Insider Trading? hmmm..unethical
    I think that this is a disservice to the bank- seller,as they could have had a better price.
    would like readers opinion

    April 23, 2008 at 4:49 PM #193433
    sdrealtor
    Participant

    Most REO’s require buyers to prequalify with their lender. They dont require them to use their lender but they want to know the buyer is legit.

    Everyone does it differently but here is how my friend (one of the top REO guys around does it as do most of the good ones). If there are multiple offers, the agent usually goes back and asks everyone to submit “their highest and best offer”. Then they pick the one they want.

    April 23, 2008 at 4:49 PM #193462
    sdrealtor
    Participant

    Most REO’s require buyers to prequalify with their lender. They dont require them to use their lender but they want to know the buyer is legit.

    Everyone does it differently but here is how my friend (one of the top REO guys around does it as do most of the good ones). If there are multiple offers, the agent usually goes back and asks everyone to submit “their highest and best offer”. Then they pick the one they want.

    April 23, 2008 at 4:49 PM #193490
    sdrealtor
    Participant

    Most REO’s require buyers to prequalify with their lender. They dont require them to use their lender but they want to know the buyer is legit.

    Everyone does it differently but here is how my friend (one of the top REO guys around does it as do most of the good ones). If there are multiple offers, the agent usually goes back and asks everyone to submit “their highest and best offer”. Then they pick the one they want.

    April 23, 2008 at 4:49 PM #193505
    sdrealtor
    Participant

    Most REO’s require buyers to prequalify with their lender. They dont require them to use their lender but they want to know the buyer is legit.

    Everyone does it differently but here is how my friend (one of the top REO guys around does it as do most of the good ones). If there are multiple offers, the agent usually goes back and asks everyone to submit “their highest and best offer”. Then they pick the one they want.

    April 23, 2008 at 4:49 PM #193551
    sdrealtor
    Participant

    Most REO’s require buyers to prequalify with their lender. They dont require them to use their lender but they want to know the buyer is legit.

    Everyone does it differently but here is how my friend (one of the top REO guys around does it as do most of the good ones). If there are multiple offers, the agent usually goes back and asks everyone to submit “their highest and best offer”. Then they pick the one they want.

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