Apr
15
2010
Is it true that bank-owned REO properties are usually being sold to the highest bidder?
Posted by Usual in Bank Owned REO, tags: BankOwned, being, bidder, highest, Properties, sold, true, usuallyBanks (REO sellers) only care about the bottom line (ie the final number). They don’t care about other factors such as buyer’s FICO scores (750 or 800), down payment amount (20% or 40%), or it’s the 2nd highest bid.
Do they counter few highest bidders to submit the “highest and best” offer OR they just simply take the highest bid received without even countering the rest?

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