Home Buying in Pittsburg>Question Details

Valentina, Other/Just Looking in Dublin, CA

We gave an all cash offer to purchase a BO property 10 days ago. We never got a acceptance or rejection notice. Why???

Asked by Valentina, Dublin, CA Sat Apr 7, 2012

Our offer was about 7% over the asking price. The listing agent did not answer our agents email asking about extension.

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Answers

3
Many REO listing agents abuse their position in today's seller's market, much to the chagrin of the rest of us. Then sometimes, they take on way too many listings at a time to respond to each offer, since each listing may get 50-70 offers.

And, for many REO listings, 7% above the asking price isn't quite competitive enough. You should discuss with your Realtor to find out what bid prices are justified in your market. Often, you find that the REO listing price is set way below market and hot bidding drives the price up by 10-20% or more.
Web Reference: http://www.archershomes.com
1 vote Thank Flag Link Sun Jul 29, 2012
I have the same proplem like this.I tried several agents with same thing.I believe they were all trained to fool the people.
0 votes Thank Flag Link Tue Dec 10, 2013
You need to get your agent to CALL the listing agent anf then if no response is obtaines to contact his Broker. Some REO agents are extremely non-responsive and it gets the rest of us a bad name.

Bernard Gibbons

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++
Bernard Gibbons, J. Rockcliff Realtors
DRE License # 01331583
Phone (925) 997-1585 - bernard@bernardgibbons.com

http://www.BernardGibbons.com
0 votes Thank Flag Link Sat Apr 7, 2012
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