Question Details

Bobbie, Home Buyer in Ceres, CA

I am very interested in this property , why is the bank not interested in my offers, what are they willing to

Asked by Bobbie, Ceres, CA Mon Feb 18, 2008

take for the property considering how the market is currently

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Answer is simple. The banks want the best bottom line! They are looking to recover the money that's lost. If your offer is low, then they will wait because they know there are buyers out there willing to get into the market. It kind of becomes a feeding frenzy of REO's, thus driving demand right back up. If have an agent, find out if the bank is willing to negotiate the reasons why they turned you down.
0 votes Thank Flag Link Mon Feb 18, 2008
What kind of offers are you making? Are they excessively low?
Web Reference:
0 votes Thank Flag Link Mon Feb 18, 2008
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