It's as frustrating to us, the professionals that represent buyers in the industry, as it is to you, the consumers, when a listing agent cannot be reached, when a listing gets high numbers of offers, and when a bank apparently cannot supply a timely and considerate response. I think of it as 'banks' versus 'real sellers'. Banks ignore any notion of business etiquette and even act as though they are above the law, and sometimes it seems that their listing agents act the same way. Yet we, the buyers' real estate agents, must interact with them, on behalf of our clients. It is not a comfortable situation for us. Our clients, the buyers, who long to buy a house, a huge investment of hopes and dreams, as well as money, become disenchanted very quickly with the real estate industry when a nonresponsive bank and listing agent are involved. We can only hope that the listing agent remains true to the ethics of our profession. It is true that bank repos often receive a great many offers, especially when they are listed below market value. And it is true that the listing agents are often instructed by their sellers to stonewall potential buyers.
These bank practices leave consumers to wonder:
"Was my offer really submitted to the bank?" The answer in most cases, is, yes, usually the offer was submitted to the bank, but the banks apparent policy is to be rude to the potential buyers, and to treat potential buyers as if the bank is doing the buyers a big fat favor by letting you make an offer on their foreclosed home.
Guess what? After all is said and done, if you are calm and patient with the banks tricky tactics and purposeful rudeness, and stick to a wise negotiating strategy, you can eventually buy a potentially nice house (after repairs) for an attractive price. It is not easy buying a foreclosed property, but a savvy buyer guided by their experienced buyer's agent can make the end result a rewarding one.
Tell your friend to hang in there.