As an investor, how can I get more offers accepted on bank owned properties? I am writing the offer the day or two after it hits the market, offering
all cash and putting up more earnest money, but I am typically not the highest bidder and not closing any deals. Do most banks just want the highest price regardless of terms or is there something more I could be doing? Also, how often do the banks take the first offer they get vs. waiting to collect several to see which one is the highest/best?
Hi, I have notice latelty that at least hre in Minnesota, some bank are not looking at investors offers unless the property has been on the market certan time, 15 das i.e.
You need to be the highets bidder most of the times.
First is to work with the agent who specialize bank owned and besure
to be honest with him then make an offer that reasonable not low ball
offer.
Banks are looking for the best and highest offers. Remember they are already taking a hit on these houses financially. If you are offering cash and not getting any deals together, then it must be the price you are offering. You need to make your offer the best you can from the start.
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