anyone with experience buying a bank owned home?
09-19-2008, 07:07 AM
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Originally Posted by kneemah' post='672748' date='Sep 18 2008, 05:56 PM
no idea, i know it's a set commission regardless what it sales for. i think the bank is BSing her, seeing how dumb she is. i believe a more experienced real estate agent would have read through that.
09-19-2008, 09:08 AM
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Originally Posted by kneemah' post='671163' date='Sep 16 2008, 10:48 PM
Well I got the biggest BS i've ever heard. my real estate agent called me back saying the bank's Realtor already has offers 45k more than what they were asking for after only being on the market for 3 days. that's also 15k more than what zillow would suggest. she said bank owned homes only stay on the market for 72 hours because they're "that hot". lol
I asked her about other homes and she said bank owned homes are so hot that people are actually buying them for more than normal channels. i can't believe this. i told her to send me 10 homes that have recently sold for more than the asking price and market value and she hasn't gotten back to me.
She accidentally left her property listing page with me that had the realtor's name and number who was managing the sale for the bank and i left them a message. hopefully I'll get a call regarding the property to see if my real estate agent is BSing me.
Regardless I'm dropping her, because she obviously has very little experience in this. if anyone has a good agent they'd like to pass along to me (San Fernando Valley) please PM me the information.
I asked her about other homes and she said bank owned homes are so hot that people are actually buying them for more than normal channels. i can't believe this. i told her to send me 10 homes that have recently sold for more than the asking price and market value and she hasn't gotten back to me.
She accidentally left her property listing page with me that had the realtor's name and number who was managing the sale for the bank and i left them a message. hopefully I'll get a call regarding the property to see if my real estate agent is BSing me.
Regardless I'm dropping her, because she obviously has very little experience in this. if anyone has a good agent they'd like to pass along to me (San Fernando Valley) please PM me the information.
First off, bank owned homes are HOT buys but NOT that hot and to say they stay on the market for 72 hours is pretty insane IMO. WIth the economy right there are several bank owned properties all the time. For her to say people are buying them for more than normal chanels is dumb because why would you pay more for a bank owned property than what they are asking for especially when you can get it down even lower since the banks lost money once they aquired the property and continuously are losing money holding on to them.
I am a real estate agent and loan officer in OC but do all areas so if you have any questions feel free ask me. If you'd like to see listings or anything, I can send you over some listings in regards to your criteria, PM me what you are looking and id love to help if needed.
If anyone also has questions about anything with Real Estate/Mortgate feel free to ask. Do over services also like loss mitigation (loan modification) lower your interest rates and even prevent foreclosure, property management, etc.
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