How stupid….another bank REO story
October 1, 2008 by Monika McGillicuddy
Filed under Blog, General R.E. Information, Home Buyer tips
okay… I’m venting (again)… can’t help it.
How stupid….another bank REO (real estate owned) story! Bank owned property listed at $189,900 in June. My buyer client and I prepared an offer based on comps and condition. We offered $144,900 with a 30 to 45 day close.
After a week or so we got a counter offer from the Owner/Bank of $184,900. My client went up to $148,000 and waited and waited. In July we were notified that the bank was staying firm. We increased our offer to $151,900 with $3 k back and a few days after that we saw a price reduction posted in MLS to $174,900. I called the listing agent to remind him that we still had strong interest in the property and that our offer was still on the table. No response…not a surprise really.
No response to my e-mails stating we were still interested
Oh well…what is a good real estate agent to do? I follow the rules but sometimes I just want to jump the sign and call the Owner/Bank directly. But I follow the rules…
Guess What??? Price reduced
Yeah, thats right… price reduced to $149,900 and you know what… we never pulled our offer off the table! Go figure…
