Here’s a parody of what it is like to purchase a bank owned home in today’s market. Sad but true the conversation is very realistic.
Best enjoyed with a Cabernet or perhaps a nice stout beer.
Unfortunately there’s so much truth to this it makes me want to cry.
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2 Comments
That video is pretty close to the truth. What is worse is when the bank agent keeps investors/buyers in the back pocket and makes sure they get the deal. Every once in a while we get an offer accepted.
I loved it. This is more than true. We had a deal 2 months ago with a bank that their asset manager told us we offered too much. We were 10% higher than the appraisal the listing agent presented to her( by the way, the other offer they had was by the listing agent for 10 % less). I argued with the Broker and the Asset Manager and lost. They said they could not take an offer higher than the appraisal. This was an offer a group member of mine had put together. Our buyer was upset that more was not better. He approached the bank directly. They decided to stay with the 10% lower offer. This was a tarp money center bank. Our government dollars well spent.