Home Buying in 90003>Question Details

Arley Padilla, Home Buyer in 90003

Im currently renting the property i am trying to buy. It is an REO its been an REO since 2007. once i finally

Asked by Arley Padilla, 90003 Fri Jun 19, 2009

decide to buy it. multiple offers suddenly appear that makes the house price go higher. how can i check to see how many other bidders are there?

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Answers

3
For REOs, your highest and Best offer is suggested.

The number of Offers is not really public information.

Banks dont always negotiate. They well tell their listing agent to request the "Highest and Best" from each prospective buyers agent.

To my understanding:

Owner Occupants with FHA loans come first
Owner Occupants with 10 to 20% plus down payment on conventional loans
Owner Occupants with cash purchase.
Investors offers.

Best of luck
0 votes Thank Flag Link Mon Aug 27, 2012
Only the listing agent will have this information and the bank that owns the property. I am not surprised, we are experiencing multiple offers and many of our properties. Did they counteroffer you back? If so, and you still want the home, I recommend to submit to them your highest and best offer.

Good luck!
Heather Paul, Realtor
Coldwell Banker
310-586-0364
http://www.HeatherPaulOnline.com
0 votes Thank Flag Link Sun Jun 10, 2012
There is no good way to check that since most offers are confidential between Buyer and Seller. The only ones really privy to that are the Sellers and their Agent. I would suggest you have your Real Estate Agent contact the Banks Agent to discuss your concerns and see what information they can get.
0 votes Thank Flag Link Sat Jun 20, 2009
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