May
15
2010
As far as selling a bank-owned REO property, do the banks generally accept only the HIGHEST qualified offer?
Posted by Usual in Bank Owned REO, tags: accept, BankOwned, Banks, generally, highest, Offer, only, Property, qualified, SellingRegardless each bidder’s financial condition (down payment amount/ excellent credit score/ contengencies…)?
For example:
Bank’s target price is $350K. Two offers received from two possible buyers.
Buyer A: Offer $352K, 5% down, credit score good 750.
Buyer B: Offer $350K, 20% down, credit score Excellent 803.
Which one would be in favor of by the bank?
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