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OxfordParticipant
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
OxfordParticipantAsset 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
OxfordParticipantAsset 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
OxfordParticipantAsset 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
OxfordParticipantAsset 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
OxfordParticipantIf they are based in Nigeria you are good to go!
ox
…big fat liarOxfordParticipantIf they are based in Nigeria you are good to go!
ox
…big fat liarOxfordParticipantIf they are based in Nigeria you are good to go!
ox
…big fat liarOxfordParticipantIf they are based in Nigeria you are good to go!
ox
…big fat liarOxfordParticipantIf they are based in Nigeria you are good to go!
ox
…big fat liarAugust 19, 2009 at 9:37 AM in reply to: REO seller wants pool filled and working before appraisal! #446383OxfordParticipant[quote=patientrenter]Oxford, the bank is lending you the money to pay for the home, including the pool. Banks are in the process of losing $1-4 trillion dollars for doing this kind of thing badly in the past. I am not surprised to see them getting a little picky. I wish you the best, but I am glad to see this kind of pickiness.
On a practical note, the bank is at risk of losing $13K more if the pool is that much of a liability (and the amount it is lending is higher than it should be by that much), so why not just put down $13K more and reduce your requested loan balance by that much? If you don’t, then they are fully justified in being extra picky because they are at extra risk.
So I’d like to see you personally get a good resolution, but I am very happy to hear that some banks are sometimes getting picky again, as if they were going to lose money if anything went wrong. This is the way it should always have been, and should be in the future.[/quote]
I am putting down 50% so they are covered. Trust me, they are being picky with their investigations of my finances. I have to provide DNA samples later today. But geezz. It’s just a hole in the ground. They could give it a ZERO value for the appraisal and we would be good to go.
ox
…holey moleyAugust 19, 2009 at 9:37 AM in reply to: REO seller wants pool filled and working before appraisal! #446577OxfordParticipant[quote=patientrenter]Oxford, the bank is lending you the money to pay for the home, including the pool. Banks are in the process of losing $1-4 trillion dollars for doing this kind of thing badly in the past. I am not surprised to see them getting a little picky. I wish you the best, but I am glad to see this kind of pickiness.
On a practical note, the bank is at risk of losing $13K more if the pool is that much of a liability (and the amount it is lending is higher than it should be by that much), so why not just put down $13K more and reduce your requested loan balance by that much? If you don’t, then they are fully justified in being extra picky because they are at extra risk.
So I’d like to see you personally get a good resolution, but I am very happy to hear that some banks are sometimes getting picky again, as if they were going to lose money if anything went wrong. This is the way it should always have been, and should be in the future.[/quote]
I am putting down 50% so they are covered. Trust me, they are being picky with their investigations of my finances. I have to provide DNA samples later today. But geezz. It’s just a hole in the ground. They could give it a ZERO value for the appraisal and we would be good to go.
ox
…holey moleyAugust 19, 2009 at 9:37 AM in reply to: REO seller wants pool filled and working before appraisal! #446914OxfordParticipant[quote=patientrenter]Oxford, the bank is lending you the money to pay for the home, including the pool. Banks are in the process of losing $1-4 trillion dollars for doing this kind of thing badly in the past. I am not surprised to see them getting a little picky. I wish you the best, but I am glad to see this kind of pickiness.
On a practical note, the bank is at risk of losing $13K more if the pool is that much of a liability (and the amount it is lending is higher than it should be by that much), so why not just put down $13K more and reduce your requested loan balance by that much? If you don’t, then they are fully justified in being extra picky because they are at extra risk.
So I’d like to see you personally get a good resolution, but I am very happy to hear that some banks are sometimes getting picky again, as if they were going to lose money if anything went wrong. This is the way it should always have been, and should be in the future.[/quote]
I am putting down 50% so they are covered. Trust me, they are being picky with their investigations of my finances. I have to provide DNA samples later today. But geezz. It’s just a hole in the ground. They could give it a ZERO value for the appraisal and we would be good to go.
ox
…holey moleyAugust 19, 2009 at 9:37 AM in reply to: REO seller wants pool filled and working before appraisal! #446986OxfordParticipant[quote=patientrenter]Oxford, the bank is lending you the money to pay for the home, including the pool. Banks are in the process of losing $1-4 trillion dollars for doing this kind of thing badly in the past. I am not surprised to see them getting a little picky. I wish you the best, but I am glad to see this kind of pickiness.
On a practical note, the bank is at risk of losing $13K more if the pool is that much of a liability (and the amount it is lending is higher than it should be by that much), so why not just put down $13K more and reduce your requested loan balance by that much? If you don’t, then they are fully justified in being extra picky because they are at extra risk.
So I’d like to see you personally get a good resolution, but I am very happy to hear that some banks are sometimes getting picky again, as if they were going to lose money if anything went wrong. This is the way it should always have been, and should be in the future.[/quote]
I am putting down 50% so they are covered. Trust me, they are being picky with their investigations of my finances. I have to provide DNA samples later today. But geezz. It’s just a hole in the ground. They could give it a ZERO value for the appraisal and we would be good to go.
ox
…holey moley -
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