Nailing the REO purchase offer

Flickr photo by bradleygee.

Q: I've made offer after offer on bank-owned properties. The last time I was outbid, I was really disappointed because I loved the house! I was really hoping it would fall out of escrow, so I kept an eye on the listing, thinking there was a small chance it would come back on the market. Instead, it just disappeared.

I asked my agent to follow up on it about 45 days later, and she told me that it sold, but the sale price was less than I offered! I'm not sure if this was an inside job (e.g., the listing agent sold it to her own client to get a double commission), but I'm thinking of calling up the listing agent and giving her a piece of my mind. What did I do wrong?

more...

To continue reading sign in to your Premium Member account.

Premium Members have full access to all news archives.

Buy Now Purchase 1-year Premium Membership - $149.95

OR

Buy Now Purchase Monthly Premium Membership - $19.95

All rights reserved. This article may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this article without permission is a violation of federal copyright law.