Asked by Anxious buyer, Oceanside, CA • Tue Sep 25, 2012
We recently put an all cash offer on a FM REO property in Oceanside. We will be the occupants for quite awhile. We wanted to make the transaction as easy as possible. We asked for no % back on closing costs, %4 earnest money down and were flexible on the closing dates. We got a response on the 1st offer that a "Multiple Offer Rounds" had started and we had 72hours to respond. We raised our offer the same day. The day following the deadline we got another response of "Multiple Offer Rounds" and we now have 24 hours to respond. We kept our same offer. I haven't read very many instances where they will initiate multiple offer rounds over and over again. Does anyone have any insight with this? After doing calculations we offered 88% of the list price, all cash. There is about 10k in renovations that need to be done. It just seems they are dragging it out to the very last day of the "First Look" period yet also keeping our offer valid (we said that it would expire after 3 days).
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