Abby,

The banks expect the source of unaccepted offers to assume their offer was not the "highest and best." Your real estate professional may be able to provide additional information and greater clarity.

Our recommendation is to not let this experience get in the way of making another run at purchasing a "foreclosure" property.

Good luck

Are you working with an agent? If so they can put in a call to the listing agent and get an idea. If the property had multiple offers yours may not have been the best terms for the bank. In the end the only thing most banks are looking for is the "net". Hopefully you will have better outcome with your next offer.

No. More often than not the offer was rejected because it was too low. They may have also received a higher offer. Banks these days are very busy and understaffed in areas like real estate owned REO. So frequently they will reject offers without providing as reason.

Ron Miller
Ron.M@buyrenter.com http://www.buyrenter.com