Nailing the REO purchase offer

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

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? A: The answer to your question is not super-clear-cut. However, there are some issues you might want to reflect on and revisit, and there's one big mistake you're on the verge of making that I'd like to save you from, if at all possible. Like many buyers, you are clearly caught in the competitive, auction-esque a...