I sell a lot of foreclosures and below are the things you can do to attract more buyers and offers. I know that some of them will be out of your control, but if you can negotiate with the bank about being better on those, both you and the bank should have a better response and better offers.
* Make the homes more presentable - buyers want move-in ready houses, many of them need to qualify for FHA loans.
* Faster response times - sometimes banks take up to a week to respond to offers, many times trying to collect bids. After that they can take 1 to 3 weeks just to send the executed contract - which in turn may affect the buyers ability to complete their loan. If you can advertise a quick response time, that can help. For that same reason many buyers are placing multiple offers.
* Easier to understand and more fair seller's addendums. I have seen seller's reducing or eliminating inspections periods and appraisal contingencies. Other advertise that the buyer should turn the utilities on if they want to inspect the property, etc. Others won't even sign some of the contract addendums. I have had buyers cancelling contract due to some of the above factors. The more fair the seller is, the better their chances to get offers and avoid cancellations.
* Faster seller response after contract acceptance. I recently had a buyer that almost canceled because her rate lock expired. The reason was that the seller (bank) took over a week to approve the HUD1 and return the executed deed. She almost cancel the contract.
* Faster response and communication from you or your team to buyers/agents. Many seller's agents that have a high number of foreclosures are so busy that they take a long time to return calls or emails. If I try to communicate with a seller's agent and it is hard to communicate or get a response back I will communicate this to my buyer and probably we will not be placing an offer, as that will be an indication of things to come.
I know that most of those things are outside your control, but if the bank agrees to be more fair and have a faster response you and your bank will move the properties faster and get higher offers.
ABR - Accredited Buyer Representative