Welcome!
Diana, I totally agree with your assessment of the situation with the banks selling their properties. I coordinate purchase closings in 11 different states with multiple banks and auction houses. It is the same story with every deal, the banks dicate every little detail of the transaction but take ages to get back to the purchaser to let them know whether their offer is excepted or not, but when there is any kind of hang up on the buyer side (approval/funding issues) the banks want to cancel the deal or CHARGE the buyer $100 a day until closing. What kind of motivation is it to a purchaser that they may have to pay additional money to the bank should any kind of issue arise. If the banks have this much invetory and need/want it off their books they should be making it easier less costly on the people trying to buy the houses. Dealing with auction houses is another ball game. When the banks use actuion houses they had yet another person to the deal who needs to approve the contract, HUD, etc. adding more time and cost to the buyer. I personally as a title rep would rather deal with an agent who has a smaller inventory than an asset manager who knows little to nothing about the local market and is dealing with a mass inventory of properties to move.