I’ve been browsing agentsonline.net for more raw intel on the broker/agent side of the story. I ran across warnings about bogus “all cash” offers from out-of-town “investors” that invariably fall through and waste everyone’s time. This certainly explains all the REO listings I’ve seen go pending then relist a week or so later.
“Buyers are liars!” some say on that forum. I’m sure lots of them are, but so is everyone else in the increasingly sordid real estate business right now. I’m sure that listing agent had no idea there were multiple lenders on that short-sale property, or that the seller really thought his old-growth vinyl flooring was solid hardwood.
I thought I was educated about real estate before I started my home search. Since then I’ve learned (a) I don’t know jack; (b) everyone lies, even when it serves no purpose; (c) you will find dry rot with your feet long before you find it through a visual inspection; (d) never open a refrigerator in an REO property.
