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Foreclosure in Enfield : Real Estate Advice

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Tue Nov 12, 2013
Lisa Orme answered:
Asking price does not always equate to what the bank will accept when offers are presented. The bank is generally looking for the highest guarantee that the sale will actually close without unforeseen delays, so the stronger your ability to purchase, the better. I have actually had a bank owned listing that received 14 offers between 120,000 and 185,000. They chose an offer at about 155,000 that was all cash over four higher offers that required the buyer to obtain some type of financing. On the other hand, I have had cash offers rejected for offers that were only a few thousand higher and financing was required, but the buyer was very strong and had a 20% down payment. If you would like to discuss this further, please give me a call at 860-688-1400. ... more
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