About a month ago, I made a bid on a bank-owned REO property with listing price $380K. My initial offer was $290K, 10 days after I sumbitted my offer, I got the counter offer from bank, $350K.
Later, I made the 2nd offer, $311,600, to the bank. This time, bank just flat out rejected my offer without even trying to make a counter.
As I heard from my agent, there was NO other offer received.
Why did the bank reject my offer without even trying to make a reasonable offer for us to work on?
5 days after bank rejected my 2nd offer. The listing price has been reduced to $361K. And as of today, there is still no offer except mine. This property has been listed in the market for 36 days…
What amount should I try to offer next?
According to the official record from the Assessor office, this is a 1 bdrm/1bath SFR house. However, it has been advertised as a “2 bdrm/1 bath” house because the dining area (bonus room) has been counted as an extra bedroom. $361K maybe is reasonable for a 2 bedroom house but way too expensive for a 1+ bedroom house.
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About a month ago, I made a bid on a bank-owned REO property with listing price $380K. My initial offer was $290K, 10 days after I sumbitted my offer, I got the counter offer from bank, $350K.
Later, I made the 2nd offer, $311,600, to the bank. This time, bank just flat out rejected my offer without even trying to make a counter.
As I heard from my agent, there was NO other offer received.
Why did the bank reject my offer without even trying to make a reasonable offer for us to work on?
5 days after bank rejected my 2nd offer. The listing price has been reduced to $361K. And as of today, there is still no offer except mine. This property has been listed in the market for 36 days…
What amount should I try to offer next?
According to the official record from the Assessor office, this is a 1 bdrm/1bath SFR house. However, it has been advertised as a “2 bdrm/1 bath” house because the dining area (bonus room) has been counted as an extra bedroom. $361K maybe is reasonable for a 2 bedroom house but way too expensive for a 1+ bedroom house.
5 Comments »
Posted by Usual in Bank approved short sales, tags: approved, BANK, hands, happens, Lawyers, over, point, rejected, Sale, Short, there, this
I have a contract signed for a short sale. real estate agent said the banks handed over the sale to there lawyer. What does this mean. Can’t seem to get a answer.
I am trying to buy this short sale
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